FCG Investment Co Decreases Stock Holdings in Huntington Bancshares Incorporated $HBAN

FCG Investment Co cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,443 shares of the bank’s stock after selling 3,111 shares during the quarter. FCG Investment Co’s holdings in Huntington Bancshares were worth $359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HBAN. AQR Capital Management LLC boosted its stake in shares of Huntington Bancshares by 274.9% in the first quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock valued at $157,292,000 after purchasing an additional 7,889,004 shares during the period. Invesco Ltd. boosted its stake in shares of Huntington Bancshares by 8.7% in the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock valued at $858,371,000 after purchasing an additional 4,586,607 shares during the period. Amundi boosted its stake in shares of Huntington Bancshares by 26.2% in the first quarter. Amundi now owns 22,011,639 shares of the bank’s stock valued at $330,395,000 after purchasing an additional 4,576,432 shares during the period. Nuveen LLC purchased a new position in shares of Huntington Bancshares in the first quarter valued at $50,078,000. Finally, Deutsche Bank AG boosted its stake in shares of Huntington Bancshares by 47.7% in the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank’s stock valued at $133,145,000 after purchasing an additional 2,865,727 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Citigroup upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd. Jefferies Financial Group increased their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, DA Davidson increased their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.89.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 0.3%

NASDAQ HBAN opened at $17.32 on Friday. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $25.27 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company’s fifty day moving average price is $17.06 and its two-hundred day moving average price is $15.91.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio is 45.93%.

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.