Farmers Trust Co. Sells 5,911 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Farmers Trust Co. lessened its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 117,090 shares of the bank’s stock after selling 5,911 shares during the period. Farmers Trust Co.’s holdings in Huntington Bancshares were worth $1,905,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $921,778,000 after acquiring an additional 1,522,767 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after buying an additional 473,893 shares in the last quarter. FMR LLC grew its holdings in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after buying an additional 3,410,597 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Huntington Bancshares by 13.2% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 0.7 %

NASDAQ HBAN traded down $0.11 during trading hours on Wednesday, hitting $16.44. 12,994,691 shares of the company were exchanged, compared to its average volume of 14,923,658. The stock has a market cap of $23.88 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. Huntington Bancshares Incorporated has a 52 week low of $12.02 and a 52 week high of $18.44. The stock has a 50-day moving average price of $17.01 and a 200 day moving average price of $15.28. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $0.36 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 over the last 90 days. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HBAN shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Sandler boosted their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $17.76.

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.