Man Group plc cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 31.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,453,293 shares of the bank's stock after selling 674,420 shares during the period. Man Group plc owned 0.10% of Huntington Bancshares worth $23,645,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Creative Capital Management Investments LLC grew its position in Huntington Bancshares by 17,533.3% during the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after acquiring an additional 1,578 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth about $37,000. Transce3nd LLC acquired a new stake in Huntington Bancshares during the 4th quarter worth approximately $48,000. Finally, Asset Dedication LLC raised its holdings in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after buying an additional 1,260 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.
Huntington Bancshares Trading Up 0.1%
Huntington Bancshares stock opened at $16.10 on Friday. 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 stock has a market capitalization of $23.52 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The firm has a 50 day simple moving average of $14.42 and a 200-day simple moving average of $15.96.
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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company posted $0.27 EPS. As a group, equities research 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 authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.
Huntington Bancshares Dividend Announcement
The company also recently announced 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 of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.85%. Huntington Bancshares's dividend payout ratio is currently 47.33%.
Insider Buying and Selling
In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider now owns 592,119 shares of the company's stock, valued at $8,715,991.68. This trade represents a 6.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,456 shares of company stock valued at $4,464,105 over the last three months. Company insiders own 0.89% of the company's stock.
Wall Street Analyst Weigh In
HBAN has been the subject of several research reports. 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 research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods cut their price objective on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a research report on Friday, March 7th. Finally, Argus set a $17.00 target price on Huntington Bancshares in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.58.
Get Our Latest Report on HBAN
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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