Burney Co. Sells 28,725 Shares of Huntington Bancshares Incorporated $HBAN

Burney Co. lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,235 shares of the bank’s stock after selling 28,725 shares during the period. Burney Co.’s holdings in Huntington Bancshares were worth $1,866,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. lifted its stake in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the period. Centennial Bank AR acquired a new position in shares of Huntington Bancshares in the fourth quarter worth approximately $28,000. Finally, DV Equities LLC bought a new stake in Huntington Bancshares in the fourth quarter valued at approximately $38,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HBAN. Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Barclays cut shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Insider Buying and Selling at Huntington Bancshares

In related news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have acquired 33,500 shares of company stock worth $617,542. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Up 0.7%

HBAN stock opened at $18.01 on Wednesday. The stock’s 50 day simple moving average is $16.65 and its 200 day simple moving average is $16.90. The company has a market cap of $36.51 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.4%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

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.