Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Park Place Capital Corp

Park Place Capital Corp reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,680 shares of the bank’s stock after selling 3,339 shares during the period. Park Place Capital Corp’s holdings in Huntington Bancshares were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in shares of Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares during the period. FMR LLC raised its holdings in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. boosted its position in Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after purchasing an additional 2,116,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after buying an additional 1,522,767 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HBAN shares. Keefe, Bruyette & Woods boosted their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Barclays increased their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Truist Financial boosted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.06.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 1.4 %

Shares of HBAN opened at $16.86 on Thursday. The stock’s fifty day simple moving average is $17.02 and its 200 day simple moving average is $15.55. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $24.49 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company posted $0.27 EPS. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.68%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Huntington Bancshares Company 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.