Sentry Investment Management LLC lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,310 shares of the bank’s stock after selling 1,279 shares during the period. Sentry Investment Management LLC’s holdings in Huntington Bancshares were worth $86,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in HBAN. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Huntington Bancshares in the second quarter valued at approximately $316,000. California Public Employees Retirement System raised its position in shares of Huntington Bancshares by 2.3% during the 3rd quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock worth $29,066,000 after buying an additional 62,674 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Huntington Bancshares by 5.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 120,744 shares of the bank’s stock worth $1,256,000 after purchasing an additional 5,740 shares in the last quarter. New Mexico Educational Retirement Board increased its position in shares of Huntington Bancshares by 4.9% in the second quarter. New Mexico Educational Retirement Board now owns 70,076 shares of the bank’s stock worth $755,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in Huntington Bancshares by 2.7% in the second quarter. Yousif Capital Management LLC now owns 215,011 shares of the bank’s stock worth $2,318,000 after acquiring an additional 5,665 shares in the last quarter. 78.68% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Huntington Bancshares news, insider Helga Houston sold 4,300 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $10.46, for a total value of $44,978.00. Following the transaction, the insider now directly owns 595,514 shares in the company, valued at $6,229,076.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.89% of the company’s stock.
Huntington Bancshares Trading Up 0.9 %
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last issued its quarterly earnings results on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping the consensus estimate of $0.12 by $0.15. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company posted $0.43 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.
Huntington Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, March 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.75%. Huntington Bancshares’s dividend payout ratio is currently 50.00%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Citigroup upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America decreased their price target on shares of Huntington Bancshares from $13.00 to $11.00 in a research note on Tuesday, October 10th. The Goldman Sachs Group lifted their price objective on shares of Huntington Bancshares from $12.50 to $14.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Jefferies Financial Group cut their price objective on shares of Huntington Bancshares from $11.00 to $10.00 in a research report on Tuesday, October 10th. Finally, Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.20.
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).
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