Schonfeld Strategic Advisors LLC Has $1.63 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Schonfeld Strategic Advisors LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 69.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,455 shares of the bank's stock after selling 224,097 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Huntington Bancshares were worth $1,634,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HBAN. National Bank of Canada FI grew its stake in shares of 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 valued at $59,661,000 after buying an additional 2,524,077 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock worth $13,832,000 after purchasing an additional 129,106 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $422,000. Donoghue Forlines LLC bought a new stake in Huntington Bancshares in the fourth quarter valued at about $1,460,000. Finally, Franklin Resources Inc. boosted its stake in Huntington Bancshares by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank's stock valued at $27,901,000 after buying an additional 55,602 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Up 4.8%

HBAN stock traded up $0.74 during mid-day trading on Monday, reaching $15.96. The company had a trading volume of 4,248,441 shares, compared to its average volume of 17,500,019. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The stock has a 50 day simple moving average of $14.35 and a two-hundred day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping 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 business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

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

Huntington Bancshares Dividend Announcement

The firm also recently declared 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. This represents a $0.62 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the transaction, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. This trade represents a 17.74% 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 Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. The trade was a 13.23% decrease in their position. 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 90 days. Company insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. 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. Piper Sandler lowered 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. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective on the stock in a research note on Thursday, April 24th. Finally, Truist Financial cut their target price on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.45.

About Huntington Bancshares

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.