Neo Ivy Capital Management Buys New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Neo Ivy Capital Management bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 115,413 shares of the bank's stock, valued at approximately $1,877,000.

Several other institutional investors also recently bought and sold shares of HBAN. Charles Schwab Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock valued at $1,056,353,000 after acquiring an additional 2,218,020 shares in the last quarter. Invesco Ltd. raised its stake in Huntington Bancshares by 4.6% in the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock worth $855,802,000 after acquiring an additional 2,310,502 shares during the last quarter. FMR LLC raised its position in Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after buying an additional 8,759,871 shares during the last quarter. Victory Capital Management Inc. lifted its position in Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the period. Finally, Norges Bank purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth about $302,826,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This represents a 10.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Helga Houston sold 42,345 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, 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 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. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Trading Down 1.3%

Huntington Bancshares stock traded down $0.20 during mid-day trading on Wednesday, hitting $15.56. The company's stock had a trading volume of 21,949,421 shares, compared to its average volume of 18,082,657. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $22.73 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The stock's fifty day moving average is $14.58 and its two-hundred day moving average is $15.94.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data 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. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $0.27 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.98%. Huntington Bancshares's payout ratio is currently 47.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HBAN. Truist Financial decreased their price objective on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Stephens reissued an "equal weight" rating and issued a $16.50 price objective on shares of Huntington Bancshares in a report on Monday, April 21st. Baird R W upgraded Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. TD Cowen initiated coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price target for the company. Finally, Royal Bank of Canada decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $17.83.

About Huntington Bancshares

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.