Janney Montgomery Scott LLC Reduces Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Janney Montgomery Scott LLC decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) by 12.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 731,462 shares of the bank’s stock after selling 101,614 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Huntington Bancshares were worth $9,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Huntington Bancshares by 0.7% during the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after purchasing an additional 1,209,264 shares in the last quarter. Boston Partners raised its holdings in shares of Huntington Bancshares by 59.3% during the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after acquiring an additional 17,365,446 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Huntington Bancshares by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after acquiring an additional 245,025 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Huntington Bancshares by 23.7% during the 3rd quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after acquiring an additional 3,438,552 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Huntington Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after acquiring an additional 765,070 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HBAN. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $15.00 in a report on Wednesday, February 14th. Evercore ISI lifted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Get Our Latest Stock Analysis on HBAN

Insider Activity at Huntington Bancshares

In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following 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 filing with the SEC, which can be accessed through this hyperlink. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the sale, the insider now directly owns 65,195 shares in the company, valued at $902,298.80. The disclosure for this sale can be found here. Insiders have sold a total of 224,092 shares of company stock valued at $3,031,731 over the last quarter. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Up 0.3 %

Shares of HBAN stock opened at $14.21 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $14.30. The stock has a market cap of $20.59 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.63 and a beta of 1.09. The business has a fifty day simple moving average of $13.61 and a 200-day simple moving average of $12.70. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter last year, the company earned $0.38 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

Huntington Bancshares Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBANFree Report).

Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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