AMG National Trust Bank Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

AMG National Trust Bank acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 86,373 shares of the bank’s stock, valued at approximately $1,270,000.

A number of other large investors have also added to or reduced their stakes in HBAN. WealthShield Partners LLC increased its position in Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after acquiring an additional 683 shares during the period. UMB Bank n.a. increased its holdings in Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after purchasing an additional 728 shares during the period. Foundations Investment Advisors LLC raised its position in Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after purchasing an additional 744 shares during the last quarter. Summit Financial Strategies Inc. raised its position in Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after purchasing an additional 762 shares during the last quarter. Finally, TCW Group Inc. lifted its holdings in Huntington Bancshares by 4.1% during the 2nd quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock worth $267,000 after buying an additional 794 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $17.80 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The business has a 50-day simple moving average of $15.45 and a two-hundred day simple moving average of $14.36. The company has a market capitalization of $25.86 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 3.53 and a beta of 1.03. Huntington Bancshares Incorporated has a 52-week low of $10.73 and a 52-week high of $17.97.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.48%. Huntington Bancshares’s payout ratio is 59.62%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HBAN. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. Evercore ISI raised their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Morgan Stanley boosted their target price on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $16.09.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 over the last quarter. Insiders own 0.89% 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.