Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by abrdn plc

abrdn plc cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,562,308 shares of the bank's stock after selling 98,308 shares during the quarter. abrdn plc owned about 0.25% of Huntington Bancshares worth $58,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HBAN. Asset Dedication LLC increased its holdings in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock valued at $26,000 after acquiring an additional 1,202 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. Fortitude Family Office LLC purchased a new position in Huntington Bancshares during the 3rd quarter worth $32,000. Crews Bank & Trust purchased a new position in Huntington Bancshares during the 4th quarter worth $58,000. Finally, UMB Bank n.a. grew its stake in Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank's stock worth $67,000 after buying an additional 728 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on HBAN. Stephens restated an "equal weight" rating and set a $18.50 target price on shares of Huntington Bancshares in a research note on Friday. Citigroup boosted their target price on Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Royal Bank of Canada restated an "outperform" rating and set a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. 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. Finally, Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.06.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction 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 transaction, the vice president now owns 496,076 shares of the company's stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the 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 transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

NASDAQ HBAN traded down $0.24 during trading hours on Friday, reaching $16.92. The company's stock had a trading volume of 15,234,144 shares, compared to its average volume of 19,882,658. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.44. The company's 50-day moving average is $16.84 and its two-hundred day moving average is $15.81. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.41 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company posted $0.27 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.4 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares's dividend payout ratio is presently 50.41%.

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.