Arvest Investments Inc. Decreases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Arvest Investments Inc. decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,980 shares of the bank’s stock after selling 17,652 shares during the quarter. Arvest Investments Inc.’s holdings in Huntington Bancshares were worth $1,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its stake in shares of Huntington Bancshares by 251,152.2% in the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock valued at $2,417,000 after buying an additional 173,295 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Huntington Bancshares by 53.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after purchasing an additional 564,729 shares during the period. Heritage Wealth Management Inc. acquired a new position in shares of Huntington Bancshares during the second quarter worth $744,000. SG Americas Securities LLC boosted its stake in shares of Huntington Bancshares by 531.0% in the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after purchasing an additional 968,331 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Huntington Bancshares by 221.8% during the 1st quarter. Cetera Investment Advisers now owns 756,408 shares of the bank’s stock valued at $10,552,000 after purchasing an additional 521,372 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on HBAN shares. Citigroup raised their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Friday, July 26th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley upped their price target 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. Finally, Barclays boosted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.09.

Huntington Bancshares Stock Performance

Shares of HBAN traded down $0.09 during trading hours on Friday, reaching $17.29. 15,612,774 shares of the company’s stock traded hands, compared to its average volume of 14,606,766. The business’s fifty day simple moving average is $15.09 and its two-hundred day simple moving average is $14.19. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 3.56 and a beta of 1.03. Huntington Bancshares Incorporated has a twelve month low of $10.10 and a twelve month high of $17.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS 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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed 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 yield of 3.59%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

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.