Huntington Bancshares Incorporated (NASDAQ:HBAN) Position Trimmed by Morningstar Investment Management LLC

Morningstar Investment Management LLC reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 175,233 shares of the bank’s stock after selling 25,957 shares during the quarter. Morningstar Investment Management LLC’s holdings in Huntington Bancshares were worth $2,310,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in Huntington Bancshares by 43.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 839,162 shares of the bank’s stock worth $10,667,000 after buying an additional 252,916 shares during the period. Vest Financial LLC raised its holdings in shares of Huntington Bancshares by 36.5% during the second quarter. Vest Financial LLC now owns 87,561 shares of the bank’s stock valued at $1,154,000 after buying an additional 23,432 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Huntington Bancshares in the 2nd quarter worth approximately $4,766,000. American Century Companies Inc. grew its holdings in Huntington Bancshares by 15.9% in the 2nd quarter. American Century Companies Inc. now owns 1,508,509 shares of the bank’s stock worth $19,882,000 after buying an additional 207,328 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $14.20 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The company has a 50 day simple moving average of $14.18 and a 200-day simple moving average of $13.67. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.37%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HBAN. Royal Bank of Canada increased their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Bank of America boosted their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their target price on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, StockNews.com cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Insider Activity

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares of the company’s stock, valued at $167,331.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Company 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.