Ossiam lessened its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 88.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,006 shares of the bank's stock after selling 87,607 shares during the period. Ossiam's holdings in Huntington Bancshares were worth $179,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in HBAN. Charles Schwab Investment Management Inc. grew its holdings in Huntington Bancshares by 3.5% in the 4th 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 in the last quarter. Invesco Ltd. grew its stake in shares of Huntington Bancshares by 4.6% in the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock valued at $855,802,000 after acquiring an additional 2,310,502 shares in the last quarter. FMR LLC increased its position in Huntington Bancshares by 36.9% during the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after acquiring an additional 8,759,871 shares during the period. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 7.4% in the 4th 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 in the last quarter. Finally, Norges Bank acquired a new stake in Huntington Bancshares in the 4th quarter worth about $302,826,000. Institutional investors own 80.72% of the company's stock.
Insider Activity at Huntington Bancshares
In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $53,695.25. Following 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 over the last three months. Company insiders own 0.89% of the company's stock.
Analyst Ratings Changes
HBAN has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a research report on Friday, March 7th. Raymond James restated a "strong-buy" rating and issued a $18.00 price target (down previously from $20.00) on shares of Huntington Bancshares in a research report on Monday. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Barclays raised their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.39.
Check Out Our Latest Analysis on Huntington Bancshares
Huntington Bancshares Price Performance
Huntington Bancshares stock opened at $13.93 on Wednesday. The stock has a 50-day moving average price of $14.75 and a two-hundred day moving average price of $16.00. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a market capitalization of $20.35 billion, a PE ratio of 11.33, a P/E/G ratio of 1.33 and a beta of 0.89. 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 issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business earned $0.27 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.
Huntington Bancshares announced that its board has authorized a stock buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
Huntington Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.45%. Huntington Bancshares's dividend payout ratio is 47.33%.
About Huntington Bancshares
(
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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