Hexagon Capital Partners LLC Sells 930 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Hexagon Capital Partners LLC cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 18.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,091 shares of the bank’s stock after selling 930 shares during the period. Hexagon Capital Partners LLC’s holdings in Huntington Bancshares were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Comerica Bank bought a new stake in Huntington Bancshares in the 3rd quarter valued at about $5,261,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Huntington Bancshares by 8.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after acquiring an additional 10,795 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Huntington Bancshares by 39.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares during the last quarter. Vest Financial LLC grew its stake in Huntington Bancshares by 16.5% in the 4th quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock worth $12,731,000 after buying an additional 141,410 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Huntington Bancshares by 715.0% in the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after buying an additional 3,729,974 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 0.2 %

HBAN opened at $13.16 on Tuesday. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $14.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $13.41 and a two-hundred day simple moving average of $13.16. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 2.49 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping 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 company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.38 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HBAN. Piper Sandler lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $13.50 to $11.50 in a research report on Friday, June 14th. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. UBS Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Stephens reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.03.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 15,948 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total transaction of $214,819.56. Following the completion of the transaction, the insider now owns 21,102 shares of the company’s stock, valued at $284,243.94. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock worth $2,148,623 over the last three months. Company insiders own 0.92% of the company’s stock.

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.