Raymond James & Associates Has $87.86 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Raymond James & Associates cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,976,946 shares of the bank’s stock after selling 649,669 shares during the quarter. Raymond James & Associates’ holdings in Huntington Bancshares were worth $87,861,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HBAN. WealthShield Partners LLC increased its holdings in Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after purchasing an additional 683 shares during the period. UMB Bank n.a. raised its position in shares of Huntington Bancshares by 19.1% during the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Huntington Bancshares by 3.2% in the second quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after acquiring an additional 744 shares during the period. Summit Financial Strategies Inc. boosted its holdings in Huntington Bancshares by 2.5% in the second quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after acquiring an additional 762 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after purchasing an additional 780 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the transaction, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays upped their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday. Morgan Stanley raised their target price on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Finally, StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.91.

Huntington Bancshares Trading Down 0.5 %

Shares of HBAN stock opened at $15.36 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.77 and a beta of 1.04. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $16.03. The company has a 50-day simple moving average of $14.56 and a two-hundred day simple moving average of $13.93.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $0.36 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 dividend yield of 4.04%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

About Huntington Bancshares

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.