Bessemer Group Inc. Sells 143,259 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bessemer Group Inc. trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 63.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,181 shares of the bank's stock after selling 143,259 shares during the quarter. Bessemer Group Inc.'s holdings in Huntington Bancshares were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transce3nd LLC bought a new position in Huntington Bancshares during the 4th quarter worth about $48,000. Curat Global LLC acquired a new stake in Huntington Bancshares during the first quarter worth approximately $52,000. Loomis Sayles & Co. L P bought a new position in Huntington Bancshares in the 4th quarter valued at about $70,000. IFP Advisors Inc raised its holdings in shares of Huntington Bancshares by 120.6% during the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank's stock worth $73,000 after buying an additional 2,462 shares in the last quarter. Finally, Briaud Financial Planning Inc bought a new position in Huntington Bancshares in the 4th quarter valued at approximately $78,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HBAN. Keefe, Bruyette & Woods reduced their target price on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Truist Financial upped their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Royal Bank Of Canada lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target for the company in a research report on Thursday, April 24th. Finally, Citigroup lowered their price target on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.08.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 42,345 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the transaction, the insider owned 592,119 shares of the company's stock, valued at approximately $8,715,991.68. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was 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 directly owned 326,456 shares of the company's stock, valued at $4,469,182.64. This represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded up $0.42 on Tuesday, hitting $17.18. The company's stock had a trading volume of 48,628,626 shares, compared to its average volume of 18,901,208. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. The firm has a fifty day moving average price of $15.57 and a 200-day moving average price of $15.64. The company has a market capitalization of $25.10 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results 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 16.94% and a return on equity of 11.44%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is presently 47.33%.

Huntington Bancshares declared that its board has initiated a stock repurchase program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is 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.