Mn Services Vermogensbeheer B.V. decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 523,900 shares of the bank's stock after selling 40,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Huntington Bancshares were worth $7,864,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of HBAN. Creative Capital Management Investments LLC lifted its stake in shares of Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after buying an additional 1,578 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in Huntington Bancshares in the 4th quarter worth $37,000. Transce3nd LLC purchased a new stake in Huntington Bancshares in the 4th quarter worth $48,000. Curat Global LLC purchased a new stake in Huntington Bancshares in the 1st quarter worth $52,000. Finally, Venturi Wealth Management LLC lifted its stake in Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock worth $53,000 after purchasing an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.
Huntington Bancshares Trading Up 1.6%
NASDAQ:HBAN traded up $0.25 during mid-day trading on Wednesday, hitting $15.73. 23,511,414 shares of the stock traded hands, compared to its average volume of 18,620,484. 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 stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.18 and a beta of 0.92. The firm's 50 day moving average is $15.06 and its two-hundred day moving average is $15.73. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 16.94% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $0.27 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares declared that its board has initiated a share buyback plan on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.
Huntington Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.94%. Huntington Bancshares's dividend payout ratio is currently 47.33%.
Insiders Place Their Bets
In other news, insider Kendall A. Kowalski sold 25,419 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total transaction of $347,731.92. Following the transaction, the insider now directly owns 70,281 shares in the company, valued at approximately $961,444.08. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, the executive vice president now owns 337,879 shares in the company, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,617 shares of company stock worth $3,113,982 in the last three months. Corporate insiders own 0.89% of the company's stock.
Analyst Ratings Changes
Several brokerages have commented on HBAN. Stephens reiterated an "equal weight" rating and issued a $16.50 price target on shares of Huntington Bancshares in a research note on Monday, April 21st. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Robert W. Baird upgraded shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target on the stock in a research note on Friday, March 7th. Truist Financial boosted their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Finally, TD Cowen assumed coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.08.
Check Out Our Latest Stock Analysis on Huntington Bancshares
About Huntington Bancshares
(
Free Report)
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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