Susquehanna Portfolio Strategies LLC Has $2.65 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Susquehanna Portfolio Strategies LLC trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 87.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 162,541 shares of the bank's stock after selling 1,186,203 shares during the quarter. Huntington Bancshares comprises about 8.9% of Susquehanna Portfolio Strategies LLC's holdings, making the stock its 5th biggest holding. Susquehanna Portfolio Strategies LLC's holdings in Huntington Bancshares were worth $2,645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Oak Thistle LLC bought a new stake in Huntington Bancshares in the 4th quarter worth about $187,000. Park Avenue Securities LLC grew its stake in shares of Huntington Bancshares by 9.1% in the fourth quarter. Park Avenue Securities LLC now owns 56,219 shares of the bank's stock worth $915,000 after acquiring an additional 4,703 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Huntington Bancshares by 75.0% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 22,022 shares of the bank's stock valued at $358,000 after purchasing an additional 9,441 shares during the last quarter. Avanza Fonder AB bought a new position in Huntington Bancshares during the fourth quarter valued at approximately $1,806,000. Finally, Merit Financial Group LLC purchased a new stake in Huntington Bancshares in the fourth quarter worth approximately $397,000. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial decreased 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. Citigroup reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Jefferies Financial Group began coverage on Huntington Bancshares in a research report on Wednesday. They issued a "buy" rating and a $20.00 target price on the stock. Raymond James restated a "strong-buy" rating and set a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. Finally, Stephens reaffirmed an "equal weight" rating and set a $16.50 price target on shares of Huntington Bancshares in a research 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 assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.83.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. This trade represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the transaction, the vice president now owns 326,456 shares of the company's stock, valued at $4,469,182.64. This trade represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

HBAN stock traded down $0.09 during midday trading on Friday, hitting $15.35. The company's stock had a trading volume of 12,987,664 shares, compared to its average volume of 21,909,732. 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 12 month low of $11.91 and a 12 month high of $18.44. The company has a 50 day moving average of $14.55 and a two-hundred day moving average of $15.97. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

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

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.04%. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

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.