Commerce Bank Sells 3,792 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Commerce Bank lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 102,379 shares of the bank’s stock after selling 3,792 shares during the quarter. Commerce Bank’s holdings in Huntington Bancshares were worth $1,505,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. WealthShield Partners LLC raised its holdings in Huntington Bancshares by 5.9% during 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. raised its stake 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 boosted its holdings in shares of 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 purchasing an additional 744 shares during the period. Summit Financial Strategies Inc. grew its stake in shares of 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. increased its holdings in Huntington Bancshares by 4.1% during 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.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HBAN shares. Piper Sandler increased their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Evercore ISI increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $16.26.

Insider Buying and Selling

In other news, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $17.89 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market cap of $25.99 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.52 and a beta of 1.03. Huntington Bancshares Incorporated has a 1 year low of $10.73 and a 1 year high of $17.98. The firm’s 50-day moving average is $15.72 and its 200 day moving average is $14.47.

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

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.47%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

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.