Oppenheimer & Co. Inc. Has $419,000 Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Oppenheimer & Co. Inc. reduced its Huntington Bancshares stake by 79.7% in the fourth quarter, leaving it with 24,157 shares valued at about $419,000.
• Huntington Bancshares reported better-than-expected quarterly earnings, with EPS of $0.37 versus the $0.16 consensus estimate, and revenue of $2.59 billion, slightly above forecasts.
• The bank also announced a quarterly dividend of $0.155 per share, implying an annualized yield of 3.8%, while analysts maintain a Moderate Buy consensus with an average price target of $20.05.

Oppenheimer & Co. Inc. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 79.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,157 shares of the bank's stock after selling 94,616 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Huntington Bancshares were worth $419,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth about $26,000. South Plains Financial Inc. boosted its position in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock worth $27,000 after acquiring an additional 826 shares during the period. Accredited Wealth Management LLC boosted its position in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock worth $29,000 after acquiring an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth about $31,000. Finally, AlphaCore Capital LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth about $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Down 0.4%

HBAN opened at $16.12 on Friday. The business has a 50 day moving average price of $16.17 and a 200 day moving average price of $16.75. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $32.68 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company earned $0.34 EPS. Research analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares's payout ratio is 47.69%.

Analysts Set New Price Targets

A number of brokerages have commented on HBAN. The Goldman Sachs Group decreased their price objective on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Keefe, Bruyette & Woods reduced their price target on Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating for the company in a report on Friday, January 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. Barclays lowered Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, April 20th. Finally, Jefferies Financial Group lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $20.05.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 17,455 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares of the company's stock, valued at $802,594.14. The trade was a 29.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares in the company, valued at approximately $1,299,194.50. This represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders acquired 39,200 shares of company stock worth $756,724 and sold 93,156 shares worth $1,489,372. Company insiders own 0.67% of the company's stock.

Huntington Bancshares Profile

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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