Beacon Investment Advisory Services Inc. cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,062,448 shares of the bank’s stock after selling 1,465 shares during the period. Huntington Bancshares makes up approximately 2.7% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 6th biggest position. Beacon Investment Advisory Services Inc. owned 0.19% of Huntington Bancshares worth $24,584,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in Huntington Bancshares in the 4th quarter valued at $25,000. We Are One Seven LLC bought a new stake in Huntington Bancshares in the 4th quarter valued at $29,000. Transamerica Financial Advisors Inc. boosted its holdings in Huntington Bancshares by 562.0% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 2,721 shares of the bank’s stock valued at $33,000 after purchasing an additional 2,310 shares during the period. Whittier Trust Co. bought a new stake in Huntington Bancshares in the 4th quarter valued at $37,000. Finally, Moody National Bank Trust Division boosted its holdings in Huntington Bancshares by 43.8% in the 4th quarter. Moody National Bank Trust Division now owns 4,191 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,276 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Nomura reissued a “neutral” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Tuesday, November 13th. ValuEngine raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, November 12th. BidaskClub downgraded shares of Huntington Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Finally, Jefferies Financial Group downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 price target for the company. in a report on Monday, January 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Huntington Bancshares has an average rating of “Hold” and an average price target of $16.54.
NASDAQ:HBAN opened at $14.27 on Thursday. The stock has a market cap of $14.78 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35. Huntington Bancshares Incorporated has a 52 week low of $11.12 and a 52 week high of $16.60. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.87.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 24th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Huntington Bancshares had a return on equity of 13.93% and a net margin of 26.43%. During the same period in the previous year, the business posted $0.26 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, March 15th. Huntington Bancshares’s payout ratio is 46.67%.
In related news, EVP Mark E. Thompson sold 18,510 shares of the stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $13.49, for a total transaction of $249,699.90. Following the completion of the sale, the executive vice president now owns 667,175 shares in the company, valued at approximately $9,000,190.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Neumeyer sold 60,000 shares of the stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $13.71, for a total transaction of $822,600.00. Following the sale, the executive vice president now owns 356,615 shares of the company’s stock, valued at approximately $4,889,191.65. The disclosure for this sale can be found here. Insiders have sold a total of 83,330 shares of company stock valued at $1,142,335 over the last ninety days. 1.05% of the stock is owned by insiders.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
Further Reading: Current Ratio
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