Park Place Capital Corp Sells 5,584 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Park Place Capital Corp lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,667 shares of the bank’s stock after selling 5,584 shares during the period. Park Place Capital Corp’s holdings in Huntington Bancshares were worth $539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in Huntington Bancshares during the third quarter valued at approximately $5,261,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Huntington Bancshares by 8.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock worth $1,911,000 after acquiring an additional 10,795 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after acquiring an additional 1,838,019 shares during the last quarter. Vest Financial LLC grew its stake in shares of Huntington Bancshares by 16.5% in the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock worth $12,731,000 after acquiring an additional 141,410 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.2 %

Shares of NASDAQ HBAN opened at $13.16 on Tuesday. The stock has a market cap of $19.07 billion, a PE ratio of 11.86, a PEG ratio of 2.49 and a beta of 1.06. The business has a fifty day moving average of $13.41 and a two-hundred day moving average of $13.16. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $14.30. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the business posted $0.38 earnings per share. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a $0.155 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.71%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HBAN shares. Stephens restated an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 price target on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $15.03.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the transaction, the insider now directly owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock valued at $2,148,623 over the last ninety days. 0.92% of the stock is owned by insiders.

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.