PNC Financial Services Group Inc. Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

PNC Financial Services Group Inc. increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 499,186 shares of the bank’s stock after acquiring an additional 12,985 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Huntington Bancshares were worth $7,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Huntington Bancshares during the 3rd quarter valued at $5,872,000. Banque Cantonale Vaudoise boosted its position in Huntington Bancshares by 140.0% during the third quarter. Banque Cantonale Vaudoise now owns 230,382 shares of the bank’s stock valued at $3,387,000 after purchasing an additional 134,389 shares in the last quarter. Prospera Financial Services Inc grew its stake in Huntington Bancshares by 21.7% in the third quarter. Prospera Financial Services Inc now owns 20,019 shares of the bank’s stock valued at $294,000 after purchasing an additional 3,576 shares during the last quarter. Pathstone Holdings LLC raised its holdings in Huntington Bancshares by 5.9% in the third quarter. Pathstone Holdings LLC now owns 172,716 shares of the bank’s stock worth $2,542,000 after purchasing an additional 9,692 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Huntington Bancshares by 1,093,900.0% during the third quarter. Quest Partners LLC now owns 21,880 shares of the bank’s stock valued at $322,000 after buying an additional 21,878 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 1.5 %

Shares of HBAN opened at $17.89 on Friday. The company has a market capitalization of $25.99 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.52 and a beta of 1.03. Huntington Bancshares Incorporated has a 52 week low of $10.73 and a 52 week high of $17.98. The stock’s 50-day moving average price is $15.72 and its 200-day moving average price is $14.47. 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 issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company earned $0.36 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

Analysts Set New Price Targets

Several research analysts recently commented on HBAN shares. Evercore ISI boosted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, DA Davidson upped their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $16.26.

Huntington Bancshares Company 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.