Wellington Management Group LLP Reduces Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wellington Management Group LLP decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 820,319 shares of the bank’s stock after selling 196,071 shares during the quarter. Wellington Management Group LLP owned about 0.06% of Huntington Bancshares worth $13,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HBAN. Creative Capital Management Investments LLC grew its position in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after purchasing an additional 1,578 shares during the period. Y.D. More Investments Ltd raised its position in Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after acquiring an additional 1,023 shares during the period. Midwest Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $37,000. Asset Dedication LLC boosted its holdings in Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after buying an additional 1,260 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 9.8 %

NASDAQ:HBAN opened at $13.71 on Thursday. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The firm has a market capitalization of $20.03 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. 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 stock has a 50 day moving average of $15.37 and a 200-day moving average of $16.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping 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 in the previous year, the business earned $0.27 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial increased their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Piper Sandler cut 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 report on Tuesday, January 21st. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, Stephens reaffirmed an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $17.94.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on 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 in the company, valued at $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,781 shares of company stock valued at $1,631,151 over the last three months. 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.