Farmers Trust Co. Decreases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Farmers Trust Co. reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,001 shares of the bank’s stock after selling 4,937 shares during the period. Farmers Trust Co.’s holdings in Huntington Bancshares were worth $1,808,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners grew its position in shares of Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. National Bank of Canada FI increased its position in Huntington Bancshares by 832.7% during the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after buying an additional 2,979,768 shares in the last quarter. Scout Investments Inc. acquired a new position in shares of Huntington Bancshares in the first quarter worth $35,428,000. Point72 Asset Management L.P. lifted its position in shares of Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after acquiring an additional 2,116,839 shares in the last quarter. Finally, 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 in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HBAN has been the topic of several analyst reports. Argus raised their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Bank of America upped their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. UBS Group dropped their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Finally, StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $15.71.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.17 on Friday. 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 business has a 50 day moving average of $14.35 and a two-hundred day moving average of $13.80. The company has a market cap of $20.54 billion, a P/E ratio of 12.77, a PEG ratio of 3.07 and a beta of 1.04. 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 firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the prior year, the business earned $0.35 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.38%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Brendan A. Lawlor sold 9,050 shares of the company’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 directly owns 11,111 shares of the company’s stock, valued at $167,331.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares 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 directly owns 265,809 shares in the company, valued at approximately $4,021,690.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,622 shares of company stock worth $1,762,904. Company insiders own 0.89% of the company’s stock.

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.