Huntington Bancshares Incorporated (HBAN) Stake Lessened by Fruth Investment Management

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Fruth Investment Management lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.3% during the first quarter, Holdings Channel reports. The fund owned 22,226 shares of the bank’s stock after selling 1,500 shares during the quarter. Fruth Investment Management’s holdings in Huntington Bancshares were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Huntington Bancshares by 6.3% during the 4th quarter. BlackRock Inc. now owns 73,785,659 shares of the bank’s stock worth $879,523,000 after acquiring an additional 4,341,210 shares during the period. Boston Partners raised its position in shares of Huntington Bancshares by 54.3% during the fourth quarter. Boston Partners now owns 49,450,631 shares of the bank’s stock valued at $589,451,000 after buying an additional 17,411,546 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Huntington Bancshares by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 14,526,595 shares of the bank’s stock valued at $172,863,000 after buying an additional 709,854 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Huntington Bancshares by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,117,471 shares of the bank’s stock valued at $168,284,000 after buying an additional 1,714,381 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Huntington Bancshares by 12.3% during the fourth quarter. Bank of America Corp DE now owns 13,837,096 shares of the bank’s stock valued at $164,938,000 after buying an additional 1,512,128 shares during the last quarter. 79.02% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Huntington Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 19th. Jefferies Financial Group cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 price objective on the stock. in a research report on Monday, January 28th. Vining Sparks reiterated a “buy” rating and set a $18.00 price objective on shares of Huntington Bancshares in a research report on Thursday, January 24th. Finally, Zacks Investment Research cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Huntington Bancshares has an average rating of “Hold” and an average target price of $16.18.

In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 60,000 shares of Huntington Bancshares stock in a transaction on Monday, February 11th. The shares were sold at an average price of $13.71, for a total transaction of $822,600.00. Following the completion of the transaction, the executive vice president now directly owns 356,615 shares of the company’s stock, valued at $4,889,191.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen H. Ransier sold 3,067 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $14.30, for a total transaction of $43,858.10. The disclosure for this sale can be found here. Insiders sold 81,577 shares of company stock worth $1,116,158 in the last 90 days. 1.22% of the stock is currently owned by company insiders.

Shares of HBAN opened at $13.66 on Wednesday. Huntington Bancshares Incorporated has a fifty-two week low of $11.12 and a fifty-two week high of $16.52. The firm has a market capitalization of $14.15 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). Huntington Bancshares had a return on equity of 13.93% and a net margin of 26.43%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, March 15th. Huntington Bancshares’s dividend payout ratio is presently 46.67%.

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About Huntington Bancshares

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).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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