Great Lakes Advisors LLC lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 85.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,447 shares of the bank’s stock after selling 135,307 shares during the quarter. Great Lakes Advisors LLC’s holdings in Huntington Bancshares were worth $263,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $216,049,000. Federated Hermes Inc. raised its stake in Huntington Bancshares by 28.8% in the first quarter. Federated Hermes Inc. now owns 29,195,530 shares of the bank’s stock valued at $326,990,000 after purchasing an additional 6,523,848 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Huntington Bancshares by 5.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,907,624 shares of the bank’s stock valued at $1,070,297,000 after purchasing an additional 3,618,731 shares during the last quarter. Two Sigma Investments LP purchased a new position in Huntington Bancshares in the 4th quarter worth approximately $44,205,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,267,633 shares of the bank’s stock worth $628,325,000 after buying an additional 2,912,638 shares during the last quarter. Hedge funds and other institutional investors own 78.75% of the company’s stock.
Huntington Bancshares Trading Down 4.4 %
NASDAQ HBAN opened at $10.65 on Wednesday. The stock has a market cap of $15.42 billion, a P/E ratio of 6.87, a price-to-earnings-growth ratio of 6.18 and a beta of 1.08. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $15.74. The stock has a 50 day simple moving average of $11.34 and a two-hundred day simple moving average of $11.72. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88.
Huntington Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.62 annualized dividend and a yield of 5.82%. Huntington Bancshares’s payout ratio is 40.00%.
Insiders Place Their Bets
In other news, insider Helga Houston sold 12,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total value of $146,991.60. Following the completion of the transaction, the insider now owns 594,564 shares in the company, valued at approximately $7,116,931.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Huntington Bancshares news, EVP Paul G. Heller sold 23,817 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total transaction of $283,184.13. Following the completion of the transaction, the executive vice president now owns 505,910 shares of the company’s stock, valued at $6,015,269.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 12,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total value of $146,991.60. Following the completion of the sale, the insider now directly owns 594,564 shares in the company, valued at $7,116,931.08. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Piper Sandler reduced their target price on Huntington Bancshares from $13.00 to $12.00 in a research note on Thursday, June 15th. Morgan Stanley reissued an “overweight” rating and set a $12.00 price objective on shares of Huntington Bancshares in a report on Tuesday, July 25th. Raymond James boosted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 24th. StockNews.com began coverage on shares of Huntington Bancshares in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, DA Davidson boosted their price objective on shares of Huntington Bancshares from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.31.
View Our Latest Report on Huntington Bancshares
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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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