Beacon Investment Advisory Services Inc. Trims Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Beacon Investment Advisory Services Inc. decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,400 shares of the bank’s stock after selling 5,058 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Huntington Bancshares were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HBAN. Asset Dedication LLC grew 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 valued at $26,000 after acquiring an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares during the third quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. grew its stake in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the third quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC purchased a new position in Huntington Bancshares during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Morgan Stanley lifted their target price 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. Evercore ISI lifted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $16.62.

Huntington Bancshares Stock Down 1.3 %

Shares of NASDAQ HBAN opened at $17.78 on Tuesday. 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 $11.57 and a 52 week high of $18.44. The firm’s fifty day moving average is $16.05 and its 200 day moving average is $14.61. The company has a market cap of $25.83 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 3.59 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, 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 transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by company insiders.

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.