Huntington Bancshares Incorporated $HBAN Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 503,448 shares of the bank’s stock after selling 27,874 shares during the quarter. Wealthfront Advisers LLC’s holdings in Huntington Bancshares were worth $7,879,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HBAN. D.A. Davidson & CO. boosted its position in Huntington Bancshares by 7.3% in the 1st quarter. D.A. Davidson & CO. now owns 162,177 shares of the bank’s stock valued at $2,538,000 after buying an additional 11,021 shares during the period. Bank of New York Mellon Corp increased its position in shares of Huntington Bancshares by 17.8% during the first quarter. Bank of New York Mellon Corp now owns 13,184,586 shares of the bank’s stock worth $206,339,000 after acquiring an additional 1,993,618 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Huntington Bancshares by 16.1% during the first quarter. Illinois Municipal Retirement Fund now owns 53,191 shares of the bank’s stock worth $832,000 after acquiring an additional 7,390 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Huntington Bancshares by 7.8% in the first quarter. Geneos Wealth Management Inc. now owns 285,169 shares of the bank’s stock valued at $4,463,000 after acquiring an additional 20,722 shares in the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH raised its stake in shares of Huntington Bancshares by 1.4% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 130,884 shares of the bank’s stock valued at $2,048,000 after acquiring an additional 1,863 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In related news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares of the company’s stock, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 33,500 shares of company stock worth $617,542 in the last three months. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $18.25 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average price of $16.90 and a 200 day moving average price of $16.92. The company has a market cap of $37.00 billion, a P/E ratio of 14.04, a PEG ratio of 0.83 and a beta of 0.93. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group cut Huntington Bancshares from a “buy” rating to a “hold” rating and decreased their price objective for the company from $21.00 to $19.00 in a research note on Monday, July 6th. Morgan Stanley boosted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Stephens initiated coverage on shares of Huntington Bancshares in a research note on Monday, June 15th. They set an “equal weight” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.