Huntington Bancshares Incorporated (NASDAQ:HBAN) Position Reduced by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,620 shares of the bank’s stock after selling 2,095 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Huntington Bancshares were worth $970,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares in the last quarter. FMR LLC raised its position in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares in the last quarter. Victory Capital Management Inc. raised its position in Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after acquiring an additional 1,522,767 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Huntington Bancshares by 37.4% during the third quarter. Point72 Asset Management L.P. now owns 4,402,801 shares of the bank’s stock valued at $64,721,000 after acquiring an additional 1,199,012 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s 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 sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $17.16 on Friday. The stock has a 50-day moving average price of $16.87 and a 200 day moving average price of $15.79. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.42 and a beta of 1.07. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its 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 quarter last year, the company posted $0.27 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.4 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.61%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Analysts Set New Price Targets

HBAN has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Citigroup increased their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Piper Sandler lowered their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.06.

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.