CNB Bank Lowers Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

CNB Bank lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 20.8% during the third quarter, HoldingsChannel.com reports. The firm owned 20,943 shares of the bank’s stock after selling 5,485 shares during the period. CNB Bank’s holdings in Huntington Bancshares were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC increased its stake in Huntington Bancshares by 251,152.2% during the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after acquiring an additional 173,295 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Huntington Bancshares by 53.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock worth $22,577,000 after purchasing an additional 564,729 shares in the last quarter. Heritage Wealth Management Inc. purchased a new position in Huntington Bancshares in the second quarter valued at approximately $744,000. Silverleafe Capital Partners LLC acquired a new position in Huntington Bancshares during the first quarter valued at approximately $1,171,000. Finally, SG Americas Securities LLC grew its stake in Huntington Bancshares by 531.0% during the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after buying an additional 968,331 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.36 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $16.03. The firm’s 50-day simple moving average is $14.56 and its 200-day simple moving average is $13.93. The firm has a market cap of $22.26 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04.

Huntington Bancshares (NASDAQ:HBAN) last announced 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 firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. 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 is presently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the transaction, the insider now directly owns 618,832 shares in the company, valued at approximately $9,294,856.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Helga Houston sold 11,288 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the sale, the insider now directly owns 618,832 shares in the company, valued at approximately $9,294,856.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares in the company, valued at approximately $4,021,690.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock worth $1,762,904 over the last 90 days. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group dropped their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods decreased their price target on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, Piper Sandler increased their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.91.

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.