Boston Partners decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,789,536 shares of the bank's stock after selling 5,174,535 shares during the period. Huntington Bancshares accounts for 1.2% of Boston Partners' portfolio, making the stock its 9th largest position. Boston Partners owned 4.18% of Huntington Bancshares worth $989,992,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after buying an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Huntington Bancshares by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock valued at $1,056,353,000 after buying an additional 2,218,020 shares during the period. Geode Capital Management LLC lifted its stake in Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank's stock valued at $540,422,000 after buying an additional 473,893 shares during the period. FMR LLC lifted its stake in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $348,672,000 after buying an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock worth $355,094,000 after purchasing an additional 1,506,606 shares during the period. Institutional investors own 80.72% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, December 12th. Piper Sandler dropped their price target on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target on the stock in a research report on Friday, March 7th. Baird R W raised Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.35.
Get Our Latest Stock Analysis on Huntington Bancshares
Huntington Bancshares Stock Up 0.5 %
HBAN stock traded up $0.07 during mid-day trading on Friday, reaching $15.02. The company had a trading volume of 99,684,051 shares, compared to its average volume of 16,321,178. 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 stock has a 50 day simple moving average of $16.23 and a two-hundred day simple moving average of $16.11. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.45.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 period in the prior year, the business 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.13%. Huntington Bancshares's dividend payout ratio is currently 50.41%.
Insider Transactions at Huntington Bancshares
In related news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares of the company's stock, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.
About Huntington Bancshares
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Free Report)
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.
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