Fruth Investment Management Reduces Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fruth Investment Management lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,451 shares of the bank’s stock after selling 1,000 shares during the quarter. Fruth Investment Management’s holdings in Huntington Bancshares were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HBAN. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the first quarter valued at $29,000. Peoples Bank KS purchased a new stake in Huntington Bancshares during the 3rd quarter worth about $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. Register Financial Advisors LLC purchased a new stake in Huntington Bancshares during the 1st quarter worth about $40,000. Finally, ORG Partners LLC increased its position in Huntington Bancshares by 354.9% during the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock worth $44,000 after purchasing an additional 2,594 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares in the company, valued at approximately $4,021,690.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last three months. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $15.52 on Tuesday. The company has a market cap of $22.49 billion, a P/E ratio of 13.98, a PEG ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.58. The business’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $13.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period last year, the business posted $0.35 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.99%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HBAN. Evercore ISI dropped their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods decreased their price target on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Friday, July 26th. Finally, Jefferies Financial Group decreased their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.71.

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.