Wells Fargo & Company MN Has $73.76 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wells Fargo & Company MN lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,533,672 shares of the bank's stock after selling 541,031 shares during the period. Wells Fargo & Company MN owned 0.31% of Huntington Bancshares worth $73,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in HBAN. Integrated Wealth Concepts LLC grew its position in Huntington Bancshares by 1.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank's stock valued at $917,000 after acquiring an additional 800 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Huntington Bancshares by 13.7% in the third quarter. Quantinno Capital Management LP now owns 117,036 shares of the bank's stock valued at $1,720,000 after acquiring an additional 14,089 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in shares of Huntington Bancshares by 131.6% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 37,591 shares of the bank's stock worth $553,000 after acquiring an additional 21,357 shares during the period. MML Investors Services LLC boosted its position in shares of Huntington Bancshares by 1.8% in the 3rd quarter. MML Investors Services LLC now owns 447,472 shares of the bank's stock worth $6,578,000 after buying an additional 8,025 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Huntington Bancshares by 7.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 445,637 shares of the bank's stock worth $6,551,000 after acquiring an additional 30,830 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.27 during mid-day trading on Monday, hitting $13.16. The company's stock had a trading volume of 2,850,839 shares, compared to its average volume of 17,250,571. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a 50-day moving average price of $15.21 and a 200 day moving average price of $16.06. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 last year, the company posted $0.27 EPS. On average, research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares's payout ratio is presently 50.41%.

Analyst Ratings Changes

A number of research firms recently issued reports on HBAN. Truist Financial increased their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Citigroup decreased their price target on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, March 24th. Piper Sandler reduced their target price on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a report on Tuesday, January 21st. Stephens restated an "equal weight" rating and set a $18.50 price objective on shares of Huntington Bancshares in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.94.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 3,521 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,781 shares of company stock valued at $1,631,151 in the last quarter. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares 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.