Texas Permanent School Fund Corp Sells 60,017 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Texas Permanent School Fund Corp reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 20.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 239,364 shares of the bank’s stock after selling 60,017 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Huntington Bancshares were worth $3,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. WealthShield Partners LLC increased its stake in Huntington Bancshares by 5.9% during the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after purchasing an additional 683 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares in the last quarter. Summit Financial Strategies Inc. increased its stake in Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after purchasing an additional 762 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after purchasing an additional 780 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Huntington Bancshares by 1.3% in the first quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after acquiring an additional 794 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s 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 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 quarter, insiders have sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $14.38 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $15.24. The company has a market capitalization of $20.84 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.90 and a beta of 1.05. The firm’s 50 day simple moving average is $14.21 and its two-hundred day simple moving average is $13.69.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HBAN shares. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Evercore ISI reduced their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada lifted their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Citigroup lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus 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.