Huntington Bancshares Incorporated (HBAN) Position Trimmed by First United Bank Trust

First United Bank Trust cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 27.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,190 shares of the bank’s stock after selling 5,979 shares during the period. First United Bank Trust’s holdings in Huntington Bancshares were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HBAN. Boston Partners raised its position in shares of Huntington Bancshares by 54.3% in the fourth quarter. Boston Partners now owns 49,450,631 shares of the bank’s stock worth $589,451,000 after buying an additional 17,411,546 shares in the last quarter. Norges Bank purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth $105,381,000. Bessemer Group Inc. raised its position in shares of Huntington Bancshares by 71,683.5% in the fourth quarter. Bessemer Group Inc. now owns 4,963,826 shares of the bank’s stock worth $59,169,000 after buying an additional 4,956,911 shares in the last quarter. BlackRock Inc. raised its position in shares of Huntington Bancshares by 6.3% in the fourth quarter. BlackRock Inc. now owns 73,785,659 shares of the bank’s stock worth $879,523,000 after buying an additional 4,341,210 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Huntington Bancshares by 5,477.5% in the fourth quarter. APG Asset Management N.V. now owns 2,454,100 shares of the bank’s stock worth $25,590,000 after buying an additional 2,410,100 shares in the last quarter. 79.14% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:HBAN traded up $0.15 on Friday, reaching $14.09. 8,329,884 shares of the company traded hands, compared to its average volume of 13,364,311. Huntington Bancshares Incorporated has a 52 week low of $11.12 and a 52 week high of $16.52. The stock has a market capitalization of $14.74 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.17 and a beta of 1.37. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.97%. Huntington Bancshares’s payout ratio is presently 46.67%.

A number of equities research analysts recently issued reports on the company. ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded Huntington Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, February 4th. Jefferies Financial Group downgraded Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 price target on the stock. in a research report on Monday, January 28th. Vining Sparks restated a “buy” rating and set a $18.00 price target on shares of Huntington Bancshares in a research report on Thursday, January 24th. Finally, Zacks Investment Research downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $16.10.

In related news, EVP Daniel J. Neumeyer sold 60,000 shares of the firm’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $13.71, for a total value of $822,600.00. Following the sale, the executive vice president now directly owns 356,615 shares of the company’s stock, valued at $4,889,191.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark E. Thompson sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $13.97, for a total value of $279,400.00. The disclosure for this sale can be found here. Insiders sold 83,067 shares of company stock worth $1,145,858 over the last three months. 1.22% of the stock is owned by insiders.

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Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

Further Reading: Understanding Average Daily Trade Volume

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

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