Sterling Capital Management LLC increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 33.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,002 shares of the bank's stock after buying an additional 29,509 shares during the quarter. Sterling Capital Management LLC's holdings in Huntington Bancshares were worth $1,936,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of HBAN. Creative Capital Management Investments LLC grew its stake in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after purchasing an additional 1,578 shares during the period. Y.D. More Investments Ltd boosted its stake in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $37,000. Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock worth $50,000 after purchasing an additional 1,260 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock valued at $53,000 after purchasing an additional 702 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Huntington Bancshares
In other news, VP Scott D. Kleinman sold 69,088 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares of the company's stock, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's 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 transaction, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at $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. Insiders have sold 111,781 shares of company stock valued at $1,631,151 over the last ninety days. Insiders own 0.89% of the company's stock.
Analyst Ratings Changes
HBAN has been the topic of a number of research reports. Truist Financial boosted their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.94.
Read Our Latest Stock Analysis on HBAN
Huntington Bancshares Stock Up 3.0 %
Shares of HBAN stock traded up $0.39 during mid-day trading on Friday, reaching $13.66. 31,068,958 shares of the company's stock traded hands, compared to its average volume of 17,378,346. The company's 50-day moving average price is $14.86 and its 200-day moving average price is $16.00. The company has a market cap of $19.96 billion, a P/E ratio of 11.11, a P/E/G 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 12 month low of $11.92 and a 12 month high of $18.45.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $0.27 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.
Huntington Bancshares announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to purchase up to 5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.
Huntington Bancshares Announces Dividend
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 given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.54%. Huntington Bancshares's dividend payout ratio (DPR) is presently 50.41%.
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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