Rafferty Asset Management LLC decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 17.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,050,243 shares of the bank's stock after selling 447,045 shares during the quarter. Rafferty Asset Management LLC owned 0.14% of Huntington Bancshares worth $33,357,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Carlson Capital Management lifted its position in shares of Huntington Bancshares by 0.4% in the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after purchasing an additional 692 shares in the last quarter. Farther Finance Advisors LLC lifted its position in 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 buying an additional 699 shares in the last quarter. Venturi Wealth Management LLC boosted its stake 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 buying an additional 702 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after acquiring an additional 762 shares in the last quarter. Finally, Lantz Financial LLC grew its holdings in shares of Huntington Bancshares by 6.1% in the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock valued at $224,000 after acquiring an additional 790 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Huntington Bancshares
In other news, insider Kendall A. Kowalski sold 25,419 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the transaction, the insider now owns 70,281 shares in the company, valued at approximately $961,444.08. The trade was a 26.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction on Thursday, March 13th. The shares were 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 in the company, valued at $4,825,036.44. This trade represents a 10.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock worth $4,464,105 over the last three months. Corporate insiders own 0.89% of the company's stock.
Analyst Ratings Changes
HBAN has been the topic of several analyst reports. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price on the stock in a report on Friday, March 7th. Morgan Stanley dropped their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. TD Cowen initiated coverage on shares of Huntington Bancshares in a research note on Thursday, May 15th. They issued a "buy" rating and a $20.00 target price for the company. Stephens reaffirmed an "equal weight" rating and set a $16.50 price target on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Citigroup cut their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.83.
Get Our Latest Report on Huntington Bancshares
Huntington Bancshares Stock Performance
NASDAQ HBAN traded down $0.49 on Wednesday, reaching $15.45. The stock had a trading volume of 8,891,839 shares, compared to its average volume of 17,780,270. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year 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 company has a market cap of $22.57 billion, a P/E ratio of 12.58, 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 two-hundred day moving average of $15.98.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the business posted $0.27 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.
Huntington Bancshares announced that its board has approved a share repurchase program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.
Huntington Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given 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 4.01%. Huntington Bancshares's dividend payout ratio is currently 47.33%.
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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