Park Place Capital Corp Trims Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Park Place Capital Corp cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,680 shares of the bank’s stock after selling 3,339 shares during the quarter. Park Place Capital Corp’s holdings in Huntington Bancshares were worth $369,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in shares of Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after buying an additional 7,439,909 shares in the last quarter. FMR LLC boosted its stake in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Huntington Bancshares by 13.2% during the 3rd 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 in the last quarter. Point72 Asset Management L.P. increased its position in shares of Huntington Bancshares by 194.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after purchasing an additional 2,116,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after purchasing an additional 1,522,767 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several research analyst reports. Citigroup boosted their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their price target on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Keefe, Bruyette & Woods increased their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.86 on Thursday. The stock’s 50 day moving average price is $17.02 and its 200 day moving average price is $15.55. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the previous year, the company earned $0.27 earnings per share. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

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 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.