PNC Financial Services Group Inc. Acquires 33,420 Shares of Huntington Bancshares Incorporated $HBAN

PNC Financial Services Group Inc. boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 535,074 shares of the bank’s stock after acquiring an additional 33,420 shares during the period. PNC Financial Services Group Inc.’s holdings in Huntington Bancshares were worth $9,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBAN. Altrius Capital Management Inc acquired a new stake in Huntington Bancshares in the third quarter valued at about $4,894,000. FineMark National Bank & Trust lifted its holdings in shares of Huntington Bancshares by 59.2% in the second quarter. FineMark National Bank & Trust now owns 175,144 shares of the bank’s stock worth $2,935,000 after acquiring an additional 65,144 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Huntington Bancshares in the third quarter worth about $3,746,000. Midwest Trust Co boosted its stake in shares of Huntington Bancshares by 12.7% in the 3rd quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock valued at $26,095,000 after purchasing an additional 170,240 shares in the last quarter. Finally, Shoker Investment Counsel Inc. grew its holdings in shares of Huntington Bancshares by 1,706.3% during the 2nd quarter. Shoker Investment Counsel Inc. now owns 200,566 shares of the bank’s stock valued at $3,361,000 after purchasing an additional 189,462 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.89 on Thursday. The stock’s 50 day moving average is $17.86 and its 200 day moving average is $17.02. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $19.45. The firm has a market cap of $28.17 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.70 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 17,455 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the transaction, the vice president owned 42,398 shares in the company, valued at approximately $802,594.14. This represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amit Dhingra sold 10,000 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the transaction, the insider directly owned 155,634 shares in the company, valued at $2,879,229. This trade represents a 6.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,732 shares of company stock valued at $1,923,233 over the last ninety days. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of research reports. Barclays boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods reduced their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, January 23rd. Jefferies Financial Group increased their target price on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 19th. The Goldman Sachs Group restated a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 6th. Finally, UBS Group set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $20.60.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.