Federated Hermes Inc. Has $318.98 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Federated Hermes Inc. cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,605,303 shares of the bank's stock after selling 4,176,143 shares during the quarter. Huntington Bancshares makes up 0.7% of Federated Hermes Inc.'s portfolio, making the stock its 22nd biggest holding. Federated Hermes Inc. owned 1.35% of Huntington Bancshares worth $318,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in HBAN. Creative Capital Management Investments LLC boosted its stake in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after acquiring an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Huntington Bancshares during the 4th quarter worth $37,000. Asset Dedication LLC boosted its stake in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock worth $50,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock valued at $53,000 after purchasing an additional 702 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

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Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Robert W. Baird upgraded shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target for the company in a research report on Friday, March 7th. StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. Truist Financial raised their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley cut their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.94.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares of the company's stock, valued at $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock worth $1,631,151 in the last 90 days. Insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.09 during trading on Friday, reaching $12.81. The company had a trading volume of 12,284,628 shares, compared to its average volume of 17,252,578. The firm's 50-day simple moving average is $15.29 and its 200 day simple moving average is $16.06. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the business earned $0.27 EPS. Sell-side analysts forecast 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 given a dividend of $0.155 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.84%. Huntington Bancshares's payout ratio is 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.