Susquehanna Portfolio Strategies LLC reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 87.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,541 shares of the bank's stock after selling 1,186,203 shares during the quarter. Huntington Bancshares comprises approximately 8.9% of Susquehanna Portfolio Strategies LLC's holdings, making the stock its 5th largest position. Susquehanna Portfolio Strategies LLC's holdings in Huntington Bancshares were worth $2,645,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Oak Thistle LLC bought a new position in shares of Huntington Bancshares in the fourth quarter worth approximately $187,000. Park Avenue Securities LLC increased 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 purchasing an additional 4,703 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Huntington Bancshares by 75.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 22,022 shares of the bank's stock worth $358,000 after purchasing an additional 9,441 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth $1,806,000. Finally, Merit Financial Group LLC purchased a new stake in Huntington Bancshares during the 4th quarter valued at approximately $397,000. 80.72% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Huntington Bancshares news, 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 directly owns 326,456 shares of the company's stock, valued at $4,469,182.64. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Helga Houston sold 42,345 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was 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 directly owns 592,119 shares in the company, valued at approximately $8,715,991.68. This represents a 6.67% decrease in their ownership of the stock. 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. Corporate insiders own 0.89% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Argus set a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Monday, April 21st. 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 report on Tuesday, April 22nd. Finally, Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $17.83.
Read Our Latest Research Report on HBAN
Huntington Bancshares Stock Performance
Shares of NASDAQ:HBAN traded down $0.62 during midday trading on Wednesday, reaching $15.32. The company's stock had a trading volume of 24,551,288 shares, compared to its average volume of 17,868,653. The firm has a market capitalization of $22.38 billion, a PE ratio of 12.46, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The stock has a fifty day moving average of $14.52 and a 200 day moving average of $15.98. 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 (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results 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 net margin of 16.23% and a return on equity of 11.23%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.
Huntington Bancshares announced that its board has initiated a stock 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 shares are undervalued.
Huntington Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
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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