Moore Capital Management LP Has $13.78 Million Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Moore Capital Management LP cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 847,212 shares of the bank's stock after selling 121,031 shares during the quarter. Moore Capital Management LP owned approximately 0.06% of Huntington Bancshares worth $13,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of HBAN. National Bank of Canada FI increased its position in Huntington Bancshares by 220.9% in the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock worth $59,661,000 after purchasing an additional 2,524,077 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Huntington Bancshares by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock valued at $13,832,000 after buying an additional 129,106 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Huntington Bancshares in the fourth quarter worth approximately $422,000. Donoghue Forlines LLC acquired a new position in Huntington Bancshares in the fourth quarter worth approximately $1,460,000. Finally, Czech National Bank raised its position in Huntington Bancshares by 6.5% during the fourth quarter. Czech National Bank now owns 314,999 shares of the bank's stock valued at $5,125,000 after acquiring an additional 19,123 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. The trade was a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the company'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 value of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23% 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 over the last three months. Company insiders own 0.89% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on HBAN. TD Cowen started coverage on shares of Huntington Bancshares in a research report on Thursday. They issued a "buy" rating and a $20.00 target price for the company. Royal Bank of Canada reduced their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Argus set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a report on Thursday, April 24th. Finally, Piper Sandler decreased their price target on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.58.

Huntington Bancshares Stock Performance

Shares of HBAN traded up $0.01 during mid-day trading on Thursday, hitting $16.10. The company's stock had a trading volume of 22,728,534 shares, compared to its average volume of 17,715,791. The stock's 50-day moving average is $14.39 and its two-hundred day moving average is $15.96. The firm 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 company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45.

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 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 firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $0.27 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares announced that its Board of Directors has approved a stock buyback plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Announces Dividend

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 given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

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.