Huntington Bancshares Incorporated (NASDAQ:HBAN) Holdings Lowered by Fortem Financial Group LLC

Fortem Financial Group LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 45.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,623 shares of the bank’s stock after selling 68,081 shares during the period. Fortem Financial Group LLC’s holdings in Huntington Bancshares were worth $1,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HBAN. Heritage Wealth Management Inc. acquired a new stake in Huntington Bancshares during the 2nd quarter worth about $744,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares in the last quarter. Petiole USA ltd purchased a new stake in Huntington Bancshares in the 3rd quarter worth approximately $3,454,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Huntington Bancshares by 40.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after buying an additional 55,865 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock worth $757,356 over the last 90 days. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HBAN shares. Keefe, Bruyette & Woods boosted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Evercore ISI increased their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $17.24.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.24 on Wednesday. Huntington Bancshares Incorporated has a one year low of $11.77 and a one year high of $18.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The business has a 50 day simple moving average of $16.47 and a 200 day simple moving average of $14.79. The company has a market capitalization of $25.05 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 3.51 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the company posted $0.36 earnings per share. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.60%. Huntington Bancshares’s payout ratio is currently 59.62%.

Huntington Bancshares Company 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.