Investors Research Corp Sells 45,288 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Investors Research Corp lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 90.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,515 shares of the bank's stock after selling 45,288 shares during the quarter. Investors Research Corp's holdings in Huntington Bancshares were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Carlson Capital Management grew its stake in Huntington Bancshares by 0.4% during the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after buying an additional 692 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Huntington Bancshares by 6.0% in the 4th quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock worth $200,000 after acquiring an additional 699 shares in the last quarter. Venturi Wealth Management LLC grew its position in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock worth $53,000 after acquiring an additional 702 shares during the last quarter. CreativeOne Wealth LLC grew its position in Huntington Bancshares by 4.0% during the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock worth $326,000 after acquiring an additional 762 shares during the last quarter. Finally, Strategic Blueprint LLC increased its holdings in Huntington Bancshares by 2.8% during the 4th quarter. Strategic Blueprint LLC now owns 29,140 shares of the bank's stock valued at $474,000 after purchasing an additional 804 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Trading Up 2.1%

Shares of Huntington Bancshares stock traded up $0.33 during trading on Tuesday, reaching $15.91. 21,316,847 shares of the company were exchanged, compared to its average volume of 18,235,972. The business has a 50-day moving average price of $14.61 and a 200-day moving average price of $15.87. The firm has a market capitalization of $23.24 billion, a price-to-earnings ratio of 12.93, 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 twelve month low of $11.92 and a twelve month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the business earned $0.27 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company 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 dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares announced that its board has initiated a share repurchase program on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of recent analyst reports. Citigroup reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Cowen began coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. TD Cowen started coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 price objective on the stock. Finally, Truist Financial dropped their target price on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $17.83.

Insider Activity at Huntington Bancshares

In other news, insider Helga Houston sold 42,345 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the sale, the insider now owns 592,119 shares of the company's stock, valued at $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The transaction 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 Huntington Bancshares stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now 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. Over the last 90 days, insiders sold 312,456 shares of company stock worth $4,464,105. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Company 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.