Ferguson Wellman Capital Management Inc. Reduces Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Ferguson Wellman Capital Management Inc. lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,470 shares of the bank’s stock after selling 962 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Huntington Bancshares were worth $286,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HBAN. Asset Dedication LLC lifted its stake in Huntington Bancshares by 200.7% in 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 last quarter. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at $29,000. Peoples Bank KS acquired a new stake in Huntington Bancshares during the 3rd quarter worth $29,000. Hazlett Burt & Watson Inc. grew its position in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in Huntington Bancshares in the first quarter valued at $40,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Trading Down 0.5 %

Shares of Huntington Bancshares stock opened at $15.36 on Friday. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $16.03. 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 business has a 50 day moving average price of $14.56 and a 200 day moving average price of $13.93. The company has a market capitalization of $22.26 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.77 and a beta of 1.04.

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. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business earned $0.36 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 55.86%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HBAN. Evercore ISI decreased their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Piper Sandler lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday. Argus boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America lifted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Barclays increased their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.91.

Insider Buying and Selling

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now directly owns 265,809 shares in the company, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over 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 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.