Farmers Trust Co. Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Farmers Trust Co. decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.8% in the fourth quarter, HoldingsChannel reports. The fund owned 117,090 shares of the bank’s stock after selling 5,911 shares during the quarter. Farmers Trust Co.’s holdings in Huntington Bancshares were worth $1,905,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arvest Bank Trust Division acquired a new position in Huntington Bancshares during the 3rd quarter valued at about $2,381,000. Heritage Wealth Management Inc. acquired a new stake in Huntington Bancshares in the 2nd quarter worth approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Huntington Bancshares by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares in the last quarter. Petiole USA ltd purchased a new position in shares of Huntington Bancshares in the third quarter worth $3,454,000. Finally, Franklin Resources Inc. lifted its stake in shares of Huntington Bancshares by 3.2% during the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after buying an additional 55,602 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on HBAN shares. The Goldman Sachs Group lifted their price target on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. DA Davidson boosted their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Citigroup boosted their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research note on Monday, December 23rd. Finally, Truist Financial started coverage on shares of Huntington Bancshares in a research note on Tuesday. They set a “buy” rating and a $19.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $17.76.

Huntington Bancshares Trading Down 0.7 %

Shares of HBAN traded down $0.11 during trading on Wednesday, reaching $16.44. 12,994,691 shares of the company traded hands, compared to its average volume of 14,923,658. The stock has a 50-day simple moving average of $17.01 and a 200-day simple moving average of $15.28. 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 twelve month low of $12.02 and a twelve month high of $18.44. The stock has a market cap of $23.88 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.77%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents 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 this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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.

Huntington Bancshares Company 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.