JPMorgan Chase & Co. lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,272,113 shares of the bank's stock after selling 2,196,250 shares during the quarter. JPMorgan Chase & Co. owned 0.64% of Huntington Bancshares worth $150,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in HBAN. D.A. Davidson & CO. increased its holdings in Huntington Bancshares by 28.3% in the third quarter. D.A. Davidson & CO. now owns 22,924 shares of the bank's stock worth $337,000 after purchasing an additional 5,058 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Huntington Bancshares by 37.8% during the 3rd quarter. Townsquare Capital LLC now owns 46,134 shares of the bank's stock valued at $678,000 after acquiring an additional 12,660 shares during the period. Public Sector Pension Investment Board boosted its stake in Huntington Bancshares by 3.2% during the third quarter. Public Sector Pension Investment Board now owns 253,638 shares of the bank's stock worth $3,728,000 after acquiring an additional 7,900 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Huntington Bancshares by 11.4% in the third quarter. Rockefeller Capital Management L.P. now owns 129,285 shares of the bank's stock worth $1,900,000 after purchasing an additional 13,193 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in Huntington Bancshares by 1,840.2% in the third quarter. Benjamin Edwards Inc. now owns 67,693 shares of the bank's stock valued at $995,000 after purchasing an additional 64,204 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Huntington Bancshares
In related news, VP Scott D. Kleinman sold 69,088 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares 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 transaction, 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. Insiders have sold a total of 111,781 shares of company stock valued at $1,631,151 over the last three months. 0.89% of the stock is currently owned by insiders.
Analyst Ratings Changes
HBAN has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $20.00 price objective on shares of Huntington Bancshares 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 objective for the company in a research note on Friday, March 7th. Citigroup lowered their target price on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Piper Sandler decreased their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, January 21st. Finally, Stephens reaffirmed an "equal weight" rating and issued a $18.50 price objective on shares of Huntington Bancshares in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.94.
Check Out Our Latest Research Report on HBAN
Huntington Bancshares Stock Performance
Shares of NASDAQ:HBAN traded down $0.86 during midday trading on Friday, reaching $12.60. The company had a trading volume of 28,687,049 shares, compared to its average volume of 17,044,482. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.45. The company's 50 day moving average price is $15.88 and its 200 day moving average price is $16.14. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a market cap of $18.41 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.33 and a beta of 0.89.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued 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 last year, the company posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS 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 of this dividend was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.92%. Huntington Bancshares's dividend payout ratio is presently 50.41%.
Huntington Bancshares Company Profile
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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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