Wellington Management Group LLP Trims Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wellington Management Group LLP cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.2% in the third quarter, Holdings Channel reports. The fund owned 1,016,390 shares of the bank’s stock after selling 2,215 shares during the period. Wellington Management Group LLP’s holdings in Huntington Bancshares were worth $14,941,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HBAN. State Street Corp increased its position in 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 purchasing an additional 7,439,909 shares during the last quarter. FMR LLC increased its holdings in shares of Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after buying an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. Point72 Asset Management L.P. grew its position in Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after acquiring an additional 2,116,839 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after acquiring an additional 1,522,767 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several recent analyst reports. 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 note on Tuesday, November 26th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their price objective 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. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays upped their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.41.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.17 on Friday. Huntington Bancshares Incorporated has a 52 week low of $12.02 and a 52 week high of $18.44. The firm has a 50 day moving average of $16.65 and a two-hundred day moving average of $14.85. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $24.94 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share 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 analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the firm earned $0.36 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 over the last three months. Insiders own 0.89% 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.