White Pine Capital LLC Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

White Pine Capital LLC cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,453 shares of the bank’s stock after selling 962 shares during the quarter. White Pine Capital LLC’s holdings in Huntington Bancshares were worth $260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. Boston Partners grew its stake in shares of Huntington Bancshares by 33.0% in the third quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock valued at $304,439,000 after buying an additional 7,271,405 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 23.7% in the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after buying an additional 3,438,552 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Huntington Bancshares in the third quarter valued at about $20,004,000. AQR Capital Management LLC grew its stake in shares of Huntington Bancshares by 1,652.2% in the third quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock valued at $18,786,000 after buying an additional 1,703,245 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Huntington Bancshares by 31.6% in the third 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 in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HBAN. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Citigroup raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays upgraded Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd. Finally, UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Price Performance

Shares of HBAN stock traded down $0.03 during mid-day trading on Friday, hitting $13.55. 12,209,161 shares of the stock traded hands, compared to its average volume of 16,849,608. Huntington Bancshares Incorporated has a twelve month low of $9.13 and a twelve month high of $14.07. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. The company’s 50-day simple moving average is $13.36 and its 200-day simple moving average is $12.27. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned $0.38 EPS. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Buying and Selling

In related news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders have sold 198,189 shares of company stock worth $2,664,978 in the last three months. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares 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.