Stonehearth Capital Management LLC Sells 2,265 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Stonehearth Capital Management LLC lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.0% in the fourth quarter, HoldingsChannel reports. The firm owned 18,335 shares of the bank’s stock after selling 2,265 shares during the period. Stonehearth Capital Management LLC’s holdings in Huntington Bancshares were worth $298,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Arvest Bank Trust Division bought a new stake in shares of Huntington Bancshares during the third quarter worth $2,381,000. Heritage Wealth Management Inc. acquired a new stake in Huntington Bancshares in the 2nd quarter valued at about $744,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after acquiring an additional 44,662 shares during the last quarter. Petiole USA ltd acquired a new position in shares of Huntington Bancshares during the third quarter worth approximately $3,454,000. Finally, Franklin Resources Inc. grew 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 valued at $27,901,000 after purchasing an additional 55,602 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Trading Up 0.1 %

NASDAQ HBAN traded up $0.02 on Tuesday, hitting $16.55. The company’s stock had a trading volume of 6,086,907 shares, compared to its average volume of 13,840,375. The firm has a market cap of $24.04 billion, a PE ratio of 15.91, a PEG ratio of 3.42 and a beta of 1.07. The company’s 50-day moving average is $16.99 and its 200 day moving average is $15.26. 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 1-year low of $12.02 and a 1-year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (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 firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $0.36 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.75%. Huntington Bancshares’s payout ratio is currently 59.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HBAN. Piper Sandler boosted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Evercore ISI increased their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, DA Davidson lifted their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.76.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by corporate 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.