Brandywine Global Investment Management LLC Sells 60,248 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Brandywine Global Investment Management LLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 763,848 shares of the bank's stock after selling 60,248 shares during the period. Brandywine Global Investment Management LLC owned 0.05% of Huntington Bancshares worth $12,428,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HBAN. Summit Securities Group LLC bought a new position in Huntington Bancshares during the fourth quarter worth about $703,000. Schroder Investment Management Group boosted its stake in shares of Huntington Bancshares by 12.8% during the 4th quarter. Schroder Investment Management Group now owns 588,221 shares of the bank's stock worth $9,606,000 after acquiring an additional 66,937 shares during the period. OneAscent Wealth Management LLC acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $176,000. Allstate Corp bought a new stake in Huntington Bancshares in the 4th quarter valued at $699,000. Finally, DnB Asset Management AS lifted its holdings in Huntington Bancshares by 12.3% during the 4th quarter. DnB Asset Management AS now owns 262,368 shares of the bank's stock valued at $4,269,000 after purchasing an additional 28,801 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HBAN shares. StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. cut their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday. Morgan Stanley decreased their target price on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Barclays lifted their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.94.

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Huntington Bancshares Price Performance

HBAN stock traded down $0.72 during trading on Friday, reaching $12.74. 20,074,902 shares of the company were exchanged, compared to its average volume of 17,015,139. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 1.33 and a beta of 0.89. 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 company has a 50-day moving average of $15.88 and a two-hundred day moving average of $16.14. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the firm earned $0.27 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares's payout ratio is 50.41%.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares of the company's stock, valued at $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,781 shares of company stock worth $1,631,151. 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.