Public Employees Retirement Association of Colorado Trims Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Public Employees Retirement Association of Colorado lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,564 shares of the bank’s stock after selling 1,607 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Huntington Bancshares were worth $1,945,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its stake in shares of Huntington Bancshares by 251,152.2% in the 1st 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 period. CANADA LIFE ASSURANCE Co lifted its position in Huntington Bancshares by 53.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after purchasing an additional 564,729 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Huntington Bancshares by 8.6% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after purchasing an additional 10,795 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after purchasing an additional 1,838,019 shares during the period. Finally, KBC Group NV raised its stake in shares of Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after buying an additional 3,729,974 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HBAN. UBS Group cut their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. JPMorgan Chase & Co. reduced their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Evercore ISI lowered their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. StockNews.com downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, Bank of America increased their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $14.60 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $21.16 billion, a P/E ratio of 13.15, a PEG ratio of 2.90 and a beta of 1.05. The firm has a fifty day moving average of $14.38 and a 200-day moving average of $13.75. 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 quarterly earnings data on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.25%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated 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 directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last quarter. 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.