United Capital Financial Advisors LLC Sells 3,792 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

United Capital Financial Advisors LLC cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,066 shares of the bank’s stock after selling 3,792 shares during the period. United Capital Financial Advisors LLC’s holdings in Huntington Bancshares were worth $928,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the period. Invesco Ltd. lifted its stake in shares of Huntington Bancshares by 4.6% in the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after purchasing an additional 2,310,502 shares during the period. FMR LLC lifted its position in shares of Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after acquiring an additional 8,759,871 shares during the period. Victory Capital Management Inc. boosted its holdings in Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock worth $355,094,000 after acquiring an additional 1,506,606 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Huntington Bancshares in the 4th quarter worth $302,826,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,781 shares of company stock valued at $1,631,151. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $13.66 on Friday. The company has a market capitalization of $19.96 billion, a PE ratio of 11.11, a P/E/G ratio of 1.33 and a beta of 0.89. The firm has a fifty day simple moving average of $14.86 and a two-hundred day simple moving average of $16.01. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the prior year, the business posted $0.27 EPS. Research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.54%. Huntington Bancshares’s payout ratio is 47.33%.

Analysts Set New Price Targets

HBAN has been the subject of a number of analyst reports. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. reduced their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Barclays raised their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $17.94.

About Huntington Bancshares

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.