Teza Capital Management LLC lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 88.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,388 shares of the bank's stock after selling 104,728 shares during the period. Teza Capital Management LLC's holdings in Huntington Bancshares were worth $218,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Carlson Capital Management raised its position in shares of Huntington Bancshares by 0.4% during the 4th quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after purchasing an additional 692 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Huntington Bancshares by 6.0% during the 4th quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock worth $200,000 after purchasing an additional 699 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Huntington Bancshares by 27.2% during 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 during the last quarter. CreativeOne Wealth LLC raised its position in shares of Huntington Bancshares by 4.0% during the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock worth $326,000 after purchasing an additional 762 shares during the last quarter. Finally, Lantz Financial LLC raised its position in shares of Huntington Bancshares by 6.1% during the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock worth $224,000 after purchasing an additional 790 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Robert W. Baird upgraded shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a report on Friday, March 7th. Truist Financial cut 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. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $17.83.
View Our Latest Research Report on HBAN
Huntington Bancshares Stock Up 1.7%
Shares of HBAN traded up $0.26 during midday trading on Tuesday, reaching $15.58. The stock had a trading volume of 3,380,559 shares, compared to its average volume of 17,987,329. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The company's fifty day simple moving average is $14.56 and its two-hundred day simple moving average is $15.94. The company has a market cap of $22.75 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $0.27 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.98%. Huntington Bancshares's dividend payout ratio is currently 47.33%.
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 buy 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.
Insider Buying and Selling
In related news, VP Brantley J. Standridge sold 70,417 shares of Huntington Bancshares 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 sale, the vice president now directly owns 326,456 shares in the company, valued at $4,469,182.64. This trade represents a 17.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kendall A. Kowalski sold 25,419 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was 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 $961,444.08. The trade was a 26.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,456 shares of company stock worth $4,464,105 in the last ninety days. 0.89% of the stock is owned by corporate insiders.
Huntington Bancshares Profile
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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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