NBC Securities Inc. Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

NBC Securities Inc. trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,841 shares of the bank’s stock after selling 796 shares during the period. NBC Securities Inc.’s holdings in Huntington Bancshares were worth $159,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CX Institutional lifted its holdings in shares of Huntington Bancshares by 13.4% in the 3rd quarter. CX Institutional now owns 17,748 shares of the bank’s stock worth $261,000 after acquiring an additional 2,102 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Huntington Bancshares in the third quarter worth $1,041,000. Exchange Traded Concepts LLC boosted its position in Huntington Bancshares by 6,617.1% during the third quarter. Exchange Traded Concepts LLC now owns 253,303 shares of the bank’s stock valued at $3,724,000 after buying an additional 249,532 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Huntington Bancshares by 668.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,600 shares of the bank’s stock valued at $215,000 after buying an additional 12,700 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Huntington Bancshares in the third quarter worth about $487,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $15.36 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. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $16.03. The firm’s fifty day moving average is $14.56 and its 200 day moving average is $13.93. The company has a market cap of $22.26 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.77 and a beta of 1.04.

Huntington Bancshares (NASDAQ:HBAN) last posted 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 analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period last year, the company earned $0.36 EPS. Sell-side analysts forecast 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. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Piper Sandler lifted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday. Barclays upped their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday. 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 report on Monday, July 22nd. Finally, Citigroup upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.91.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is currently owned by company insiders.

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.