Nisa Investment Advisors LLC Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Nisa Investment Advisors LLC reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371,532 shares of the bank’s stock after selling 6,671 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Huntington Bancshares were worth $6,102,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC lifted its position in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $31,000. Fortitude Family Office LLC purchased a new stake in Huntington Bancshares during the third quarter valued at approximately $32,000. Finally, UMB Bank n.a. boosted its stake in Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after acquiring an additional 728 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

HBAN has been the subject of several analyst reports. Stephens reiterated an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a report on Tuesday. DA Davidson raised their price target on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Citigroup boosted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research report on Tuesday. Finally, Evercore ISI upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Stock Up 1.8 %

Huntington Bancshares stock opened at $17.20 on Friday. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.44. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. The business’s 50-day moving average price is $17.00 and its 200 day moving average price is $15.59. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results 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 net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the business posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s 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.