Hartford Investment Management Co. Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Hartford Investment Management Co. lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,944 shares of the bank’s stock after selling 1,018 shares during the period. Hartford Investment Management Co.’s holdings in Huntington Bancshares were worth $1,246,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Tyler Stone Wealth Management purchased a new stake in Huntington Bancshares during the 2nd quarter worth $25,000. Clear Street Markets LLC increased its stake in Huntington Bancshares by 81.6% during the 1st quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after buying an additional 1,272 shares during the period. Planned Solutions Inc. purchased a new stake in Huntington Bancshares during the 4th quarter worth $33,000. Authentikos Wealth Advisory LLC purchased a new stake in Huntington Bancshares during the 3rd quarter worth $35,000. Finally, Sunbelt Securities Inc. purchased a new stake in Huntington Bancshares during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 0.6 %

Huntington Bancshares stock opened at $13.60 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $13.10 and a two-hundred day moving average price of $11.92. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 10.97 and a beta of 1.11. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $13.97.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.15. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same period in the previous year, the business posted $0.43 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.2 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Friday, March 15th. Huntington Bancshares’s payout ratio is 50.00%.

Insider Buying and Selling at Huntington Bancshares

In other news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders sold 102,241 shares of company stock valued at $1,360,359 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HBAN shares. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $12.00 to $15.00 in a research report on Tuesday, January 2nd. Royal Bank of Canada boosted their target price on shares of Huntington Bancshares from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. Stephens reissued an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a research report on Monday, April 1st. Finally, UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $14.22.

Huntington Bancshares 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.