Trust Investment Advisors Sells 5,000 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Trust Investment Advisors cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,585 shares of the bank’s stock after selling 5,000 shares during the period. Huntington Bancshares makes up 1.3% of Trust Investment Advisors’ holdings, making the stock its 28th biggest holding. Trust Investment Advisors’ holdings in Huntington Bancshares were worth $1,017,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HBAN. BlackRock Inc. boosted its holdings in Huntington Bancshares by 17.5% during the first quarter. BlackRock Inc. now owns 86,682,134 shares of the bank’s stock worth $1,099,129,000 after purchasing an additional 12,896,475 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Huntington Bancshares by 20.6% during the first quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock worth $474,471,000 after purchasing an additional 6,400,061 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Huntington Bancshares by 1.5% during the first quarter. The Manufacturers Life Insurance Company now owns 15,059,755 shares of the bank’s stock worth $190,959,000 after purchasing an additional 221,076 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Huntington Bancshares by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 14,526,595 shares of the bank’s stock worth $172,863,000 after purchasing an additional 709,854 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Huntington Bancshares by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,117,471 shares of the bank’s stock worth $168,284,000 after purchasing an additional 1,714,381 shares during the last quarter. 75.52% of the stock is owned by institutional investors.

Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. ValuEngine cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Macquarie cut shares of Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 price target on the stock. in a report on Friday, July 12th. BMO Capital Markets cut shares of Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 price target on the stock. in a report on Monday, July 8th. Finally, Argus assumed coverage on shares of Huntington Bancshares in a report on Friday, May 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $15.63.

HBAN remained flat at $$13.00 during midday trading on Friday. 4,672,859 shares of the company’s stock were exchanged, compared to its average volume of 9,447,628. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $13.49 billion, a P/E ratio of 10.83, a PEG ratio of 1.42 and a beta of 1.40. Huntington Bancshares Incorporated has a 52-week low of $11.12 and a 52-week high of $16.52. The company has a 50-day simple moving average of $13.75.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, July 25th. The bank reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Research analysts forecast that Huntington Bancshares Incorporated will post 1.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.62%. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.14. Huntington Bancshares’s payout ratio is presently 46.67%.

In related news, EVP Paul G. Heller sold 33,772 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $13.08, for a total transaction of $441,737.76. Following the sale, the executive vice president now directly owns 458,479 shares in the company, valued at approximately $5,996,905.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy E. Maloney sold 2,604 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.57, for a total transaction of $37,940.28. Following the sale, the executive vice president now owns 80,103 shares in the company, valued at $1,167,100.71. The disclosure for this sale can be found here. 1.22% of the stock is owned by insiders.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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