Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,733,974 shares of the bank’s stock after selling 3,260,611 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.50% of Huntington Bancshares worth $707,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HBAN. Boston Partners boosted its holdings in Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after purchasing an additional 17,365,446 shares in the last quarter. Norges Bank acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $206,703,000. KBC Group NV boosted its holdings in Huntington Bancshares by 715.0% in the fourth 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 in the last quarter. National Bank of Canada FI boosted its holdings in Huntington Bancshares by 832.7% in the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after purchasing an additional 2,979,768 shares in the last quarter. Finally, Scout Investments Inc. acquired a new position in Huntington Bancshares in the first quarter valued at approximately $35,428,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stephens reissued an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada increased their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods decreased their price objective on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, Piper Sandler increased their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.47.

Insiders Place Their Bets

In other news, VP Rajeev Syal sold 11,627 shares of Huntington Bancshares stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total transaction of $158,941.09. Following the completion of the transaction, the vice president now owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Rajeev Syal sold 11,627 shares of Huntington Bancshares stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total transaction of $158,941.09. Following the completion of the transaction, the vice president now owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,165 shares of company stock worth $2,301,069. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

NASDAQ:HBAN traded up $0.07 during trading hours on Friday, hitting $15.13. The company’s stock had a trading volume of 17,412,332 shares, compared to its average volume of 20,461,926. The business’s 50-day moving average is $13.45 and its two-hundred day moving average is $13.31. The company has a market capitalization of $21.93 billion, a PE ratio of 13.63, a PEG ratio of 3.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.10%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

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.