Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 32.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,301 shares of the bank’s stock after selling 24,514 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Huntington Bancshares were worth $653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners lifted its holdings in shares of Huntington Bancshares by 33.0% during the third quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after purchasing an additional 7,271,405 shares during the period. Victory Capital Management Inc. lifted its position in Huntington Bancshares by 23.7% during the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after purchasing an additional 3,438,552 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Huntington Bancshares in the third quarter valued at $20,004,000. AQR Capital Management LLC grew its position in Huntington Bancshares by 1,652.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock worth $18,786,000 after purchasing an additional 1,703,245 shares during the period. Finally, Barclays PLC raised its stake in shares of Huntington Bancshares by 31.6% during the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock valued at $56,117,000 after buying an additional 1,296,978 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $13.53 on Tuesday. The business’s 50 day moving average price is $13.29 and its 200-day moving average price is $12.19. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $19.62 billion, a PE ratio of 12.19, a P/E/G ratio of 2.47 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.58%. Huntington Bancshares’s payout ratio is 55.86%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank of Canada raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $15.00 in a report on Wednesday, February 14th. Keefe, Bruyette & Woods boosted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, Stephens reiterated an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Insiders Place Their Bets

In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold 102,241 shares of company stock valued at $1,360,359 in the last ninety days. 0.92% of the stock is currently owned by corporate 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.