US Bancorp DE Reduces Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

US Bancorp DE reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 19.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 404,647 shares of the bank's stock after selling 96,964 shares during the period. US Bancorp DE's holdings in Huntington Bancshares were worth $5,948,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in Huntington Bancshares by 251,152.2% during the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank's stock worth $2,417,000 after acquiring an additional 173,295 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Huntington Bancshares by 53.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank's stock valued at $22,577,000 after buying an additional 564,729 shares during the period. Heritage Wealth Management Inc. bought a new stake in Huntington Bancshares in the second quarter worth $744,000. SG Americas Securities LLC boosted its stake in Huntington Bancshares by 531.0% during the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank's stock worth $15,166,000 after buying an additional 968,331 shares during the period. Finally, Cetera Investment Advisers increased its position in Huntington Bancshares by 221.8% during the first quarter. Cetera Investment Advisers now owns 756,408 shares of the bank's stock valued at $10,552,000 after acquiring an additional 521,372 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. Robert W. Baird lowered Huntington Bancshares from an "outperform" rating to a "neutral" rating and set a $15.00 target price for the company. in a research report on Friday, July 26th. Royal Bank of Canada reissued an "outperform" rating and set a $17.00 price target on shares of Huntington Bancshares in a research note on Friday, October 18th. StockNews.com upgraded Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Finally, Baird R W lowered Huntington Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $16.09.

Insider Activity

In related news, insider Helga Houston sold 6,455 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company's stock, valued at $8,615,217.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Down 0.5 %

Shares of NASDAQ HBAN traded down $0.08 during mid-day trading on Monday, reaching $15.40. 11,634,109 shares of the company were exchanged, compared to its average volume of 15,990,311. Huntington Bancshares Incorporated has a 1 year low of $10.10 and a 1 year high of $16.03. The firm has a 50-day moving average of $14.90 and a 200 day moving average of $14.08. The stock has a market cap of $22.37 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 3.18 and a beta of 1.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.2 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's payout ratio is presently 59.62%.

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.