Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Rhino Investment Partners Inc

Rhino Investment Partners Inc lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 76.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,316 shares of the bank's stock after selling 1,063,948 shares during the quarter. Rhino Investment Partners Inc's holdings in Huntington Bancshares were worth $5,260,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Creative Capital Management Investments LLC increased its position in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock worth $26,000 after buying an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd increased its stake in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $37,000. Transce3nd LLC bought a new position in shares of Huntington Bancshares during the 4th quarter valued at $48,000. Finally, Asset Dedication LLC boosted its holdings in Huntington Bancshares by 70.0% during the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after acquiring an additional 1,260 shares during the period. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares of the company's stock, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 312,456 shares of company stock worth $4,464,105. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

HBAN traded down $0.06 on Monday, hitting $15.02. 12,856,683 shares of the stock were exchanged, compared to its average volume of 17,405,939. The business has a 50-day moving average of $14.45 and a two-hundred day moving average of $15.97. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS 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 company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $0.27 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its board has initiated a stock buyback program on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.13%. Huntington Bancshares's payout ratio is 47.33%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research analyst reports. Barclays boosted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods decreased their target price on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Piper Sandler decreased their price target on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley reduced their target price on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued 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 $17.45.

Huntington Bancshares Profile

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.