Pathway Financial Advisers LLC Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pathway Financial Advisers LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,988 shares of the bank’s stock after selling 3,790 shares during the period. Pathway Financial Advisers LLC’s holdings in Huntington Bancshares were worth $487,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. EP Wealth Advisors LLC purchased a new stake in shares of Huntington Bancshares in the 2nd quarter worth $464,000. Quarry LP lifted its stake in Huntington Bancshares by 143.9% in the second quarter. Quarry LP now owns 9,836 shares of the bank’s stock worth $130,000 after acquiring an additional 5,803 shares during the period. NewEdge Advisors LLC grew its holdings in Huntington Bancshares by 7.0% during the 2nd quarter. NewEdge Advisors LLC now owns 216,807 shares of the bank’s stock worth $2,858,000 after acquiring an additional 14,146 shares in the last quarter. Creative Planning increased its position in Huntington Bancshares by 15.0% during the 2nd quarter. Creative Planning now owns 268,864 shares of the bank’s stock valued at $3,544,000 after purchasing an additional 35,046 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter valued at about $387,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $14.70 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a 50-day moving average of $14.38 and a two-hundred day moving average of $13.79. The stock has a market cap of $21.30 billion, a P/E ratio of 13.24, a P/E/G ratio of 3.07 and a beta of 1.05. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.24.

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

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.22%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the sale, the insider now directly owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the transaction, the insider now directly owns 65,899 shares of the company’s stock, valued at $987,167.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’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 sale, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock valued at $1,762,904 over the last 90 days. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HBAN. Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada lifted their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Jefferies Financial Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.59.

About Huntington Bancshares

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.