Huntington Bancshares Incorporated (NASDAQ:HBAN) Stake Lowered by Zacks Investment Management

Zacks Investment Management decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,064,942 shares of the bank’s stock after selling 202,547 shares during the period. Zacks Investment Management owned approximately 0.14% of Huntington Bancshares worth $33,597,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HBAN. Charles Schwab Investment Management Inc. lifted its holdings in Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after acquiring an additional 2,218,020 shares during the last quarter. Invesco Ltd. grew its stake in Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after acquiring an additional 2,310,502 shares in the last quarter. FMR LLC increased its holdings in shares of Huntington Bancshares by 36.9% in the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after purchasing an additional 8,759,871 shares during the period. Victory Capital Management Inc. lifted its position in shares of Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock worth $355,094,000 after purchasing an additional 1,506,606 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth approximately $302,826,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HBAN shares. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Truist Financial increased their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Stephens reaffirmed an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a research note on Friday, February 7th. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.94.

Insider Buying and Selling at Huntington Bancshares

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 transaction, the vice president now owns 47,950 shares of the company’s stock, valued at $731,237.50. This represents a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,781 shares of company stock worth $1,631,151. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $13.40 on Wednesday. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The company has a 50 day moving average of $15.06 and a 200-day moving average of $16.03. 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 firm has a market cap of $19.57 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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 prior year, the business posted $0.27 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is 50.41%.

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.