First Trust Advisors LP Sells 59,260 Shares of Huntington Bancshares Incorporated $HBAN

First Trust Advisors LP cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,607,743 shares of the bank’s stock after selling 59,260 shares during the quarter. First Trust Advisors LP’s holdings in Huntington Bancshares were worth $165,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of HBAN. MTM Investment Management LLC bought a new position in shares of Huntington Bancshares in the second quarter worth $25,000. Accredited Wealth Management LLC boosted its stake in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after buying an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in Huntington Bancshares during the third quarter worth about $31,000. AlphaCore Capital LLC bought a new position in Huntington Bancshares in the 3rd quarter worth about $33,000. Finally, First Horizon Corp bought a new position in Huntington Bancshares in the 3rd quarter worth about $36,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Down 2.2%

Shares of NASDAQ:HBAN opened at $16.31 on Friday. The stock has a market capitalization of $33.11 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The stock’s 50-day moving average price is $17.70 and its 200-day moving average price is $17.08. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period last year, the firm posted $0.34 EPS. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s payout ratio is presently 44.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HBAN. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday, January 12th. Barclays upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Stephens raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Piper Sandler lifted their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, January 22nd. Finally, National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.78.

Insider Activity

In related news, VP Brantley J. Standridge sold 5,830 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares in the company, valued at $6,271,718.64. This represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Amit Dhingra sold 10,000 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider directly owned 155,634 shares of the company’s stock, valued at $2,879,229. The trade was a 6.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have bought 26,488 shares of company stock valued at $510,286 and have sold 50,145 shares valued at $929,885. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.