Pitcairn Co. Has $232,000 Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pitcairn Co. decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,796 shares of the bank’s stock after selling 2,355 shares during the period. Pitcairn Co.’s holdings in Huntington Bancshares were worth $232,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Asset Dedication LLC raised its stake in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. increased its position in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares in the 3rd quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC acquired a new stake in Huntington Bancshares in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $18.00 on Thursday. 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 Incorporated has a 52 week low of $10.73 and a 52 week high of $18.44. The firm has a 50 day moving average of $15.86 and a 200-day moving average of $14.53. The company has a market cap of $26.15 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 3.63 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last posted 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. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.44%. Huntington Bancshares’s payout ratio is currently 59.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HBAN shares. Evercore ISI increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays increased their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Piper Sandler boosted their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $16.62.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were 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 approximately $8,615,217.06. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. Company insiders own 0.92% of the company’s stock.

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.