Checchi Capital Advisers LLC Lowers Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Checchi Capital Advisers LLC cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,622 shares of the bank’s stock after selling 2,490 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Huntington Bancshares were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI bought a new position in Huntington Bancshares in the first quarter worth about $25,000. Clear Street Markets LLC raised its holdings in Huntington Bancshares by 81.6% in the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after purchasing an additional 1,272 shares in the last quarter. Winch Advisory Services LLC raised its holdings in Huntington Bancshares by 313.4% in the first quarter. Winch Advisory Services LLC now owns 3,117 shares of the bank’s stock worth $35,000 after purchasing an additional 2,363 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Huntington Bancshares in the first quarter worth about $35,000. Finally, Quarry LP raised its holdings in Huntington Bancshares by 68.8% in the first quarter. Quarry LP now owns 3,777 shares of the bank’s stock worth $42,000 after purchasing an additional 1,539 shares in the last quarter. 78.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 4,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $10.46, for a total value of $44,978.00. Following the sale, the insider now owns 595,514 shares in the company, valued at approximately $6,229,076.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent research reports. DA Davidson boosted their target price on shares of Huntington Bancshares from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Jefferies Financial Group cut their price objective on shares of Huntington Bancshares from $11.00 to $10.00 in a report on Tuesday, October 10th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday. Raymond James cut their price objective on shares of Huntington Bancshares from $15.00 to $13.00 and set a “strong-buy” rating on the stock in a report on Monday, October 23rd. Finally, Piper Sandler cut their price objective on shares of Huntington Bancshares from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.30.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $11.08 on Friday. Huntington Bancshares Incorporated has a twelve month low of $9.13 and a twelve month high of $15.74. The company’s 50 day moving average is $10.23 and its 200 day moving average is $10.71. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80. The company has a market cap of $16.04 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 6.11 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. Huntington Bancshares had a return on equity of 14.71% and a net margin of 22.55%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.37 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be given a $0.155 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.62 annualized dividend and a yield of 5.60%. Huntington Bancshares’s dividend payout ratio is presently 41.06%.

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).