Los Angeles Capital Management LLC Sells 478,867 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Los Angeles Capital Management LLC reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 65.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,669 shares of the bank’s stock after selling 478,867 shares during the period. Los Angeles Capital Management LLC’s holdings in Huntington Bancshares were worth $3,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Dedication LLC grew its stake in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares during the third quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at about $31,000. Fortitude Family Office LLC bought a new position in shares of Huntington Bancshares in the third quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.6 %

Shares of NASDAQ:HBAN opened at $17.64 on Wednesday. Huntington Bancshares Incorporated has a 12 month low of $10.10 and a 12 month high of $17.85. The company’s 50-day moving average price is $15.20 and its two-hundred day moving average price is $14.25. The firm has a market cap of $25.63 billion, a P/E ratio of 16.96, a P/E/G ratio of 3.51 and a beta of 1.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is 59.62%.

Insider Buying and Selling

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HBAN shares. Argus raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Friday, July 26th. Barclays raised their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.09.

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.