LPL Financial LLC Reduces Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

LPL Financial LLC lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,707,940 shares of the bank’s stock after selling 91,351 shares during the period. LPL Financial LLC owned 0.19% of Huntington Bancshares worth $44,058,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after purchasing an additional 2,218,020 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after purchasing an additional 473,893 shares during the period. FMR LLC grew its position in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after buying an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 7.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock worth $355,094,000 after acquiring an additional 1,506,606 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBAN has been the topic of a number of analyst reports. Morgan Stanley lowered their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Citigroup cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Down 2.2 %

HBAN stock opened at $14.79 on Friday. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $21.60 billion, a P/E ratio of 12.02, a PEG ratio of 1.33 and a beta of 1.07. The firm has a 50 day simple moving average of $16.07 and a 200-day simple moving average of $16.13.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company posted $0.27 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s payout ratio is 50.41%.

Insider Activity

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,781 shares of company stock valued at $1,631,151. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.