Janney Montgomery Scott LLC Sells 41,731 Shares of Huntington Bancshares Incorporated $HBAN

Janney Montgomery Scott LLC trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 521,932 shares of the bank’s stock after selling 41,731 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Huntington Bancshares were worth $8,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in HBAN. Caldwell Trust Co increased its holdings in Huntington Bancshares by 163.4% in the first quarter. Caldwell Trust Co now owns 11,241 shares of the bank’s stock worth $176,000 after purchasing an additional 6,974 shares in the last quarter. Larry Mathis Financial Planning LLC bought a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $157,000. Pictet Asset Management Holding SA boosted its holdings in shares of Huntington Bancshares by 33.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,164,928 shares of the bank’s stock worth $18,231,000 after buying an additional 292,586 shares in the last quarter. Fruth Investment Management grew its position in shares of Huntington Bancshares by 48.5% during the 1st quarter. Fruth Investment Management now owns 24,988 shares of the bank’s stock worth $391,000 after buying an additional 8,162 shares during the period. Finally, Welch Group LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $208,000. Institutional investors own 80.72% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HBAN. Truist Financial lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Royal Bank Of Canada raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Weiss Ratings cut shares of Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $20.15.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.86 on Friday. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The business’s fifty day moving average is $16.60 and its 200 day moving average is $16.90. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a market cap of $36.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 0.93.

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

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares’s payout ratio is presently 47.69%.

Huntington Bancshares Profile

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.