Procyon Advisors LLC Sells 5,925 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Procyon Advisors LLC reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,910 shares of the bank’s stock after selling 5,925 shares during the period. Procyon Advisors LLC’s holdings in Huntington Bancshares were worth $389,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HBAN. Asset Dedication LLC raised its position in shares of Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS bought a new stake in Huntington Bancshares during the third quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares in the third quarter worth $31,000. Fortitude Family Office LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth about $32,000. Finally, UMB Bank n.a. grew its position in 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. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In related news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction dated Wednesday, November 13th. The shares were 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 approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last three months. Insiders own 0.92% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.01 on Monday. The firm has a market cap of $24.71 billion, a P/E ratio of 16.36, a PEG ratio of 2.51 and a beta of 1.07. Huntington Bancshares Incorporated has a twelve month low of $12.02 and a twelve month high of $18.44. 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 company has a 50 day moving average of $17.06 and a 200 day moving average of $15.49.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.64%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Analyst Ratings Changes

Several research firms have weighed in on HBAN. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Citigroup increased their target price 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 lifted their price target on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.76.

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.