Man Group plc trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,453,293 shares of the bank's stock after selling 674,420 shares during the period. Man Group plc owned about 0.10% of Huntington Bancshares worth $23,645,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Czech National Bank lifted its stake in shares of Huntington Bancshares by 6.5% in the 4th quarter. Czech National Bank now owns 314,999 shares of the bank's stock valued at $5,125,000 after purchasing an additional 19,123 shares during the last quarter. Wedmont Private Capital grew its stake in Huntington Bancshares by 8.1% in the 4th quarter. Wedmont Private Capital now owns 28,069 shares of the bank's stock valued at $450,000 after buying an additional 2,108 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $187,000. Park Avenue Securities LLC grew its holdings in Huntington Bancshares by 9.1% in the 4th quarter. Park Avenue Securities LLC now owns 56,219 shares of the bank's stock valued at $915,000 after buying an additional 4,703 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in Huntington Bancshares during the fourth quarter worth $73,000. Institutional investors and hedge funds own 80.72% of the company's stock.
Insider Activity at Huntington Bancshares
In related news, VP Brantley J. Standridge sold 70,417 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, 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 filing with the SEC, which is available through this link. Also, insider Helga Houston sold 42,345 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the transaction, the insider now owns 592,119 shares of the company's stock, valued at $8,715,991.68. The trade was a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 312,456 shares of company stock worth $4,464,105 in the last quarter. 0.89% of the stock is owned by company insiders.
Huntington Bancshares Price Performance
Shares of HBAN stock traded down $0.29 during mid-day trading on Wednesday, hitting $15.66. 7,460,399 shares of the stock were exchanged, compared to its average volume of 17,768,365. 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 52-week low of $11.92 and a 52-week high of $18.45. The company has a market cap of $22.87 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The firm has a fifty day moving average of $14.52 and a 200 day moving average of $15.98.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares announced 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Huntington Bancshares Dividend Announcement
The business 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 dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.96%. Huntington Bancshares's dividend payout ratio is presently 47.33%.
Analyst Upgrades and Downgrades
HBAN has been the topic of several recent research reports. TD Cowen started coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Argus set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, April 25th. Morgan Stanley cut their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective for the company in a research note on Thursday, April 24th. Finally, Piper Sandler reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.83.
View Our Latest Research Report on HBAN
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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