Newport Trust Company LLC Sells 188,496 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Newport Trust Company LLC trimmed its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,375,711 shares of the bank’s stock after selling 188,496 shares during the period. Huntington Bancshares comprises 0.4% of Newport Trust Company LLC’s investment portfolio, making the stock its 27th biggest position. Newport Trust Company LLC owned approximately 0.78% of Huntington Bancshares worth $149,932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $206,703,000. Boston Partners increased its holdings in Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after buying an additional 9,533,511 shares during the last quarter. KBC Group NV raised its position in Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the period. National Bank of Canada FI boosted its stake in Huntington Bancshares by 832.7% in the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after acquiring an additional 2,979,768 shares during the last quarter. Finally, Scout Investments Inc. bought a new position in shares of Huntington Bancshares during the 1st quarter valued at approximately $35,428,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HBAN shares. Bank of America lifted their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price target 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. UBS Group dropped their price target 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. Argus lifted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Evercore ISI dropped their target price on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.59.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the sale, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. The disclosure for this sale can be found here. Insiders sold 116,622 shares of company stock valued at $1,762,904 over the last quarter. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $14.96 on Friday. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 2.90 and a beta of 1.05. The company has a 50-day simple moving average of $14.31 and a two-hundred day simple moving average of $13.72. 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 12-month low of $9.25 and a 12-month high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating 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 analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.14%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

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.