Covestor Ltd Reduces Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Covestor Ltd lessened its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 57.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,038 shares of the bank’s stock after selling 8,179 shares during the period. Covestor Ltd’s holdings in Huntington Bancshares were worth $84,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HBAN. Massmutual Trust Co. FSB ADV grew its position in shares of Huntington Bancshares by 8.6% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock worth $1,911,000 after buying an additional 10,795 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares in the last quarter. KBC Group NV increased its position in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after purchasing an additional 3,729,974 shares during the period. Tower Research Capital LLC TRC raised its holdings in Huntington Bancshares by 160.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 206,193 shares of the bank’s stock worth $2,623,000 after purchasing an additional 126,900 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Huntington Bancshares by 43.4% in the 4th quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock worth $58,000 after purchasing an additional 1,371 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 7,278 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total transaction of $217,440.24. Following the transaction, the insider now owns 65,195 shares in the company, valued at approximately $902,298.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 61,881 shares of company stock worth $844,003 over the last three months. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Up 0.5 %

NASDAQ HBAN traded up $0.07 during mid-day trading on Wednesday, reaching $15.14. The stock had a trading volume of 7,035,496 shares, compared to its average volume of 17,425,051. The company has a fifty day moving average price of $13.40 and a 200 day moving average price of $13.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.21. The stock has a market cap of $21.94 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 3.85 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the company posted $0.35 earnings per share. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.17 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is presently 55.86%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HBAN shares. Jefferies Financial Group reduced their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Bank of America upped their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Piper Sandler upped their price target on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday. Finally, Evercore ISI decreased their price objective on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $15.50.

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.