Retirement Systems of Alabama Lowers Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Retirement Systems of Alabama decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 315,007 shares of the bank’s stock after selling 4,686 shares during the period. Retirement Systems of Alabama’s holdings in Huntington Bancshares were worth $4,631,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Asset Dedication LLC increased its holdings in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the period. Peoples Bank KS purchased a new position in shares of Huntington Bancshares in the 3rd quarter valued at $29,000. Hazlett Burt & Watson Inc. raised its position in shares of Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth $31,000. Finally, Fortitude Family Office LLC bought a new stake in Huntington Bancshares during the third quarter valued at about $32,000. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on HBAN shares. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. DA Davidson boosted their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Citigroup raised their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.41.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $15.91 on Friday. Huntington Bancshares Incorporated has a 1 year low of $12.02 and a 1 year high of $18.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $23.11 billion, a PE ratio of 15.30, a P/E/G ratio of 3.47 and a beta of 1.06. The company has a fifty day moving average of $16.78 and a 200 day moving average of $14.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the previous year, the firm posted $0.36 EPS. Research analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.90%. Huntington Bancshares’s payout ratio is 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.