OLD National Bancorp IN Sells 5,916 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

OLD National Bancorp IN cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 20.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,601 shares of the bank’s stock after selling 5,916 shares during the quarter. OLD National Bancorp IN’s holdings in Huntington Bancshares were worth $354,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in 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 purchasing an additional 2,524,077 shares during the period. Pictet Asset Management Holding SA boosted its stake in Huntington Bancshares by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock valued at $13,832,000 after purchasing an additional 129,106 shares during the period. Fisher Asset Management LLC bought a new stake in Huntington Bancshares in the 4th quarter valued at $189,000. IFP Advisors Inc boosted its stake in Huntington Bancshares by 120.6% in the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,462 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in Huntington Bancshares by 14.6% in the 4th quarter. Global Retirement Partners LLC now owns 11,069 shares of the bank’s stock valued at $180,000 after purchasing an additional 1,407 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Truist Financial cut their target price on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 target price for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $17.83.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.31 on Wednesday. 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 company has a market capitalization of $23.82 billion, a PE ratio of 13.26, a P/E/G ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The stock has a 50-day moving average price of $14.76 and a two-hundred day moving average price of $15.81.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. 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 earned $0.27 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.80%. Huntington Bancshares’s dividend payout ratio is presently 47.33%.

Huntington Bancshares announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to buy up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kendall A. Kowalski sold 25,419 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the completion of the sale, the insider now directly owns 70,281 shares of the company’s stock, valued at approximately $961,444.08. The trade was a 26.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,456 shares of company stock worth $4,464,105. 0.89% of the stock is currently owned by insiders.

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 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.