Pitcairn Co. Sells 2,355 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pitcairn Co. decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 13.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,796 shares of the bank’s stock after selling 2,355 shares during the quarter. Pitcairn Co.’s holdings in Huntington Bancshares were worth $232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. WealthShield Partners LLC increased its stake in Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after buying an additional 683 shares during the last quarter. UMB Bank n.a. increased its position in shares of Huntington Bancshares by 19.1% during the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after acquiring an additional 728 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in Huntington Bancshares by 3.2% during the second quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after acquiring an additional 744 shares during the period. Summit Financial Strategies Inc. boosted its position in Huntington Bancshares by 2.5% in the second quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after purchasing an additional 762 shares during the last quarter. Finally, TCW Group Inc. grew its stake in Huntington Bancshares by 4.1% in the 2nd quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock valued at $267,000 after purchasing an additional 794 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HBAN. Barclays boosted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday. DA Davidson upped their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Citigroup increased their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $16.62.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $18.00 on Thursday. Huntington Bancshares Incorporated has a 52 week low of $10.73 and a 52 week high of $18.44. The stock has a market cap of $26.15 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 3.63 and a beta of 1.03. The business has a 50-day simple moving average of $15.86 and a two-hundred day simple moving average of $14.53. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

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

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.44%. Huntington Bancshares’s payout ratio is 59.62%.

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.