KBC Group NV Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

KBC Group NV trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 80.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 211,391 shares of the bank's stock after selling 849,575 shares during the quarter. KBC Group NV's holdings in Huntington Bancshares were worth $3,173,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HBAN. Carlson Capital Management boosted its holdings in shares of Huntington Bancshares by 0.4% during the 4th 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 period. Farther Finance Advisors LLC boosted its holdings in Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock valued at $200,000 after acquiring an additional 699 shares during the period. CreativeOne Wealth LLC grew its position in shares of Huntington Bancshares by 4.0% in the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after purchasing an additional 762 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of Huntington Bancshares by 7.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank's stock worth $195,000 after purchasing an additional 856 shares during the period. Finally, Keudell Morrison Wealth Management boosted its stake in Huntington Bancshares by 5.2% during the 1st quarter. Keudell Morrison Wealth Management now owns 17,509 shares of the bank's stock valued at $263,000 after purchasing an additional 858 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a report on Thursday. Keefe, Bruyette & Woods cut their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Citigroup boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday. Truist Financial raised their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Stephens reissued an "equal weight" rating and issued a $16.50 price target on shares of Huntington Bancshares in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 3,434 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $14.50, for a total transaction of $49,793.00. Following the completion of the sale, the insider directly owned 66,847 shares in the company, valued at $969,281.50. The trade was a 4.89% 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, insider Helga Houston sold 42,345 shares of the company's stock in a transaction dated 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 $8,715,991.68. The trade was a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,375 shares of company stock valued at $3,049,277 in the last ninety days. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded up $0.11 during trading on Friday, hitting $17.51. The company's stock had a trading volume of 21,797,655 shares, compared to its average volume of 19,021,731. The business has a fifty day moving average of $15.76 and a 200-day moving average of $15.66. The company has a market cap of $25.58 billion, a PE ratio of 13.37, a P/E/G ratio of 1.33 and a beta of 0.93. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating 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 11.44% and a net margin of 16.94%. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a $0.155 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.54%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares announced that its board has authorized a share buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to purchase up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

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.