Janney Montgomery Scott LLC Cuts Stock Holdings in Huntington Bancshares Incorporated $HBAN

Janney Montgomery Scott LLC decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,932 shares of the bank’s stock after selling 41,731 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Huntington Bancshares were worth $8,168,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in HBAN. Empowered Funds LLC boosted its holdings in Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares during the last quarter. Woodline Partners LP increased its stake in Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after buying an additional 35,574 shares during the last quarter. Brown Advisory Inc. increased its stake in Huntington Bancshares by 8.3% in the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after buying an additional 3,023 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Huntington Bancshares by 6.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock worth $3,674,000 after buying an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Huntington Bancshares by 6.2% in the 2nd quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock worth $11,859,000 after buying an additional 41,156 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.86 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The company has a market cap of $36.20 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The firm’s 50-day simple moving average is $16.60 and its two-hundred day simple moving average is $16.90.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Research analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought 33,500 shares of company stock valued at $617,542 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Weiss Ratings lowered Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Evercore reissued an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 12th. Morgan Stanley raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday. Finally, The Goldman Sachs Group lowered their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.15.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.