Harvest Portfolios Group Inc. Lowers Stock Position in Huntington Bancshares Incorporated $HBAN

Harvest Portfolios Group Inc. trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 365,886 shares of the bank’s stock after selling 47,159 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Huntington Bancshares were worth $6,132,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HBAN. Family Legacy Financial Solutions LLC purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in Huntington Bancshares in the second quarter valued at about $30,000. Quarry LP raised its holdings in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares in the last quarter. TruNorth Capital Management LLC bought a new position in Huntington Bancshares in the first quarter worth about $40,000. Finally, Trust Co. of Vermont lifted its position in shares of Huntington Bancshares by 249.8% during the second quarter. Trust Co. of Vermont now owns 2,690 shares of the bank’s stock valued at $45,000 after buying an additional 1,921 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, Director John C. Inglis bought 6,506 shares of the stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the completion of the purchase, the director directly owned 89,831 shares of the company’s stock, valued at $1,374,414.30. This represents a 7.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the transaction, the executive vice president directly owned 299,361 shares of the company’s stock, valued at $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson reiterated a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 28th. Morgan Stanley upped their price target on Huntington Bancshares from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Finally, TD Cowen raised their price target on Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $19.66.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.42 on Friday. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The firm has a market cap of $22.50 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.66 and a beta of 1.01. The business’s 50 day moving average price is $16.70 and its 200 day moving average price is $16.33.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The business had revenue of $469.00 million for the quarter. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s payout ratio is 43.36%.

About Huntington Bancshares

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.