Zacks Investment Management Sells 202,547 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Zacks Investment Management lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,064,942 shares of the bank's stock after selling 202,547 shares during the period. Zacks Investment Management owned 0.14% of Huntington Bancshares worth $33,597,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HBAN. Arvest Bank Trust Division bought a new position in Huntington Bancshares in the 3rd quarter valued at approximately $2,381,000. National Bank of Canada FI lifted its holdings in Huntington Bancshares by 220.9% in the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock valued at $59,661,000 after buying an additional 2,524,077 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock valued at $13,832,000 after purchasing an additional 129,106 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at $422,000. Finally, Donoghue Forlines LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at about $1,460,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 3,521 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company's stock, valued at $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,781 shares of company stock valued at $1,631,151. Insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.39 during mid-day trading on Friday, reaching $13.66. 31,068,958 shares of the company were exchanged, compared to its average volume of 17,378,346. The stock has a market capitalization of $19.96 billion, a PE ratio of 11.11, a PEG ratio of 1.33 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The company's 50 day moving average price is $14.86 and its 200 day moving average price is $16.00.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. 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 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.54%. Huntington Bancshares's dividend payout ratio (DPR) is 50.41%.

Huntington Bancshares announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HBAN. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a report on Friday, March 7th. Stephens restated an "equal weight" rating and issued a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. Truist Financial boosted their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Barclays raised their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Finally, Piper Sandler reduced their price objective on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average price target of $17.94.

Huntington Bancshares Company 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.