State of Alaska Department of Revenue Decreases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

State of Alaska Department of Revenue cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,732 shares of the bank’s stock after selling 2,870 shares during the period. State of Alaska Department of Revenue’s holdings in Huntington Bancshares were worth $2,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HBAN. YANKCOM Partnership bought a new stake in Huntington Bancshares in the fourth quarter worth about $583,000. Centennial Wealth Advisory LLC raised its holdings in shares of Huntington Bancshares by 5.2% in the 4th quarter. Centennial Wealth Advisory LLC now owns 42,360 shares of the bank’s stock worth $689,000 after purchasing an additional 2,093 shares during the period. Choreo LLC lifted its stake in Huntington Bancshares by 5.1% in the fourth quarter. Choreo LLC now owns 37,722 shares of the bank’s stock valued at $621,000 after purchasing an additional 1,825 shares during the last quarter. Confluence Wealth Services Inc. grew its holdings in Huntington Bancshares by 5.9% during the fourth quarter. Confluence Wealth Services Inc. now owns 32,890 shares of the bank’s stock valued at $556,000 after purchasing an additional 1,842 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Huntington Bancshares by 19.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,208,948 shares of the bank’s stock worth $19,801,000 after buying an additional 200,525 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.92 on Monday. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.44. 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 firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.41 and a beta of 1.07. The company’s fifty day moving average price is $16.84 and its 200-day moving average price is $15.82.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.27 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analyst Ratings Changes

HBAN has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. 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 research report on Wednesday, December 4th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. DA Davidson upped their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Piper Sandler reduced their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This 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 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.