Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,174,283 shares of the bank's stock after selling 282,845 shares during the period. Bank of New York Mellon Corp owned 0.63% of Huntington Bancshares worth $149,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock worth $1,179,319,000 after buying an additional 7,439,909 shares during the last quarter. FMR LLC increased its position in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $348,672,000 after acquiring an additional 3,410,597 shares during the period. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock worth $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after acquiring an additional 1,522,767 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Huntington Bancshares by 37.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,402,801 shares of the bank's stock valued at $64,721,000 after purchasing an additional 1,199,012 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

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Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded down $0.43 during trading on Tuesday, hitting $15.77. 17,864,674 shares of the stock were exchanged, compared to its average volume of 20,303,660. The company has a market cap of $22.92 billion, a PE ratio of 12.81, a P/E/G ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44. The company has a fifty day moving average price of $16.65 and a two-hundred day moving average price of $16.09. 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 announced its quarterly earnings data 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 period in the prior year, the company earned $0.27 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

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 given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares's payout ratio is 50.41%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler cut their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.06.

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.