Ethic Inc. Has $3 Million Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Ethic Inc. trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 43.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 184,320 shares of the bank's stock after selling 140,860 shares during the quarter. Ethic Inc.'s holdings in Huntington Bancshares were worth $2,999,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of HBAN. Creative Capital Management Investments LLC grew its holdings in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock worth $26,000 after purchasing an additional 1,578 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of 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 buying an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares in the fourth quarter valued at $37,000. Transce3nd LLC bought a new position in shares of Huntington Bancshares in the fourth quarter valued at $48,000. Finally, Asset Dedication LLC lifted its stake in shares of Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after buying an additional 1,260 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HBAN shares. Royal Bank of Canada dropped their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Piper Sandler dropped their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 21st. Truist Financial cut their price target on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James restated a "strong-buy" rating and set a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.45.

Insider Activity

In related news, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the transaction, the vice president now owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 approximately $4,825,036.44. This represents a 10.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,456 shares of company stock valued at $4,464,105 over the last quarter. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $15.22 on Monday. The company's 50 day moving average is $14.35 and its 200-day moving average is $15.96. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market cap of $22.23 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is currently 47.33%.

Huntington Bancshares declared that its Board of Directors has approved a share buyback program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

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.

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