First National Trust Co Sells 47,967 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

First National Trust Co decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,638 shares of the bank’s stock after selling 47,967 shares during the period. First National Trust Co’s holdings in Huntington Bancshares were worth $2,018,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HBAN. Boston Partners raised its stake in Huntington Bancshares by 33.0% during the 3rd quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock valued at $304,439,000 after buying an additional 7,271,405 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Huntington Bancshares by 23.7% in the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after acquiring an additional 3,438,552 shares during the period. Qube Research & Technologies Ltd purchased a new position in Huntington Bancshares in the third quarter worth about $20,004,000. AQR Capital Management LLC boosted its position in Huntington Bancshares by 1,652.2% in the third quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock worth $18,786,000 after purchasing an additional 1,703,245 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Huntington Bancshares by 31.6% during the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock valued at $56,117,000 after purchasing an additional 1,296,978 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ HBAN traded up $0.13 on Friday, reaching $13.80. The company had a trading volume of 9,181,550 shares, compared to its average volume of 17,355,142. The stock has a market capitalization of $20.00 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.53 and a beta of 1.09. Huntington Bancshares Incorporated has a 12 month low of $9.13 and a 12 month high of $14.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The firm’s 50 day moving average price is $13.44 and its 200 day moving average price is $12.38.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.49%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Activity at Huntington Bancshares

In related news, VP Rajeev Syal sold 11,627 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total transaction of $158,941.09. Following the sale, the vice president now owns 329,607 shares of the company’s stock, valued at $4,505,727.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Rajeev Syal sold 11,627 shares of Huntington Bancshares stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the transaction, the vice president now owns 329,607 shares in the company, valued at $4,505,727.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,381 shares of company stock valued at $2,814,291. 0.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on HBAN. Bank of America raised 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 report on Monday, April 8th. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Royal Bank of Canada upped their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

About Huntington Bancshares

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.