Huntington Bancshares Incorporated $HBAN Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Decreases Stake

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 44.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 715,050 shares of the bank’s stock after selling 583,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Huntington Bancshares were worth $10,912,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Parcion Private Wealth LLC raised its position in shares of Huntington Bancshares by 31.7% in the 3rd quarter. Parcion Private Wealth LLC now owns 25,902 shares of the bank’s stock worth $395,000 after acquiring an additional 6,242 shares in the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth $625,000. Livelsberger Financial Advisory bought a new stake in Huntington Bancshares during the third quarter valued at about $31,000. Childress Capital Advisors LLC bought a new stake in Huntington Bancshares during the third quarter valued at about $263,000. Finally, D.A. Davidson & CO. boosted its position in Huntington Bancshares by 9.5% during the third quarter. D.A. Davidson & CO. now owns 234,286 shares of the bank’s stock valued at $3,575,000 after purchasing an additional 20,323 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In related news, insider Kendall Kowalski sold 27,971 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Torgow bought 12,700 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were acquired at an average cost of $15.73 per share, with a total value of $199,771.00. Following the acquisition, the director directly owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. This represents a 1.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.78 on Friday. The business’s 50 day moving average price is $15.96 and its 200 day moving average price is $16.70. The firm has a market cap of $31.88 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.01 and a beta of 0.95. Huntington Bancshares Incorporated has a 52 week low of $14.82 and a 52 week high of $19.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the firm earned $0.41 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be given a $0.1550 dividend. The ex-dividend date is Friday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares’s dividend payout ratio (DPR) is 51.24%.

Wall Street Analyst Weigh In

Several research firms have commented on HBAN. Keefe, Bruyette & Woods decreased their price target on shares of Huntington Bancshares from $19.50 to $18.00 and set a “market perform” rating for the company in a research report on Tuesday, October 6th. Truist Financial cut their price objective on shares of Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, August 18th. Morgan Stanley cut shares of Huntington Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $21.00 to $19.00 in a research report on Friday, July 24th. Finally, Jefferies Financial Group lowered their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.98.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.