HighTower Advisors LLC Has $5.52 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

HighTower Advisors LLC decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 375,907 shares of the bank’s stock after selling 53,517 shares during the quarter. HighTower Advisors LLC’s holdings in Huntington Bancshares were worth $5,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after acquiring an additional 1,522,767 shares in the last quarter. FMR LLC grew its position in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Huntington Bancshares by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after purchasing an additional 561,565 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Huntington Bancshares by 1.9% in the third quarter. Citigroup Inc. now owns 9,084,856 shares of the bank’s stock worth $133,547,000 after buying an additional 168,186 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $17.24 on Wednesday. Huntington Bancshares Incorporated has a 1-year low of $11.77 and a 1-year high of $18.44. The firm has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $14.79. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $25.05 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 3.51 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company 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 period in the prior year, the company earned $0.36 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Citigroup boosted their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Evercore ISI upped their price target 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $17.24.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the company’s 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 transaction, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 over the last three months. 0.89% of the stock is currently owned by insiders.

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.