Huntington Bancshares Incorporated $HBAN Position Cut by Brookstone Capital Management

Brookstone Capital Management reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 704,717 shares of the bank’s stock after selling 32,179 shares during the quarter. Brookstone Capital Management’s holdings in Huntington Bancshares were worth $12,227,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after purchasing an additional 1,366 shares in the last quarter. Woodline Partners LP grew its position in Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after buying an additional 35,574 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Huntington Bancshares during the 2nd quarter valued at about $263,000. Choreo LLC raised its position in shares of Huntington Bancshares by 7.3% during the 2nd quarter. Choreo LLC now owns 35,458 shares of the bank’s stock worth $601,000 after buying an additional 2,407 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Huntington Bancshares by 99.2% during the 2nd quarter. Mackenzie Financial Corp now owns 275,955 shares of the bank’s stock worth $4,625,000 after buying an additional 137,400 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 4.2%

HBAN stock opened at $15.65 on Wednesday. The firm has a market cap of $31.88 billion, a PE ratio of 11.26, a P/E/G ratio of 0.61 and a beta of 0.95. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $16.88 and a 200 day simple moving average of $16.82.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company posted $0.34 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. Huntington Bancshares’s payout ratio is 44.60%.

Analysts Set New Price Targets

Several research firms have recently issued reports on HBAN. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, January 12th. Truist Financial cut their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Jefferies Financial Group decreased their price target on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Raymond James Financial lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.53.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 65,530 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares in the company, valued at $7,360,009.28. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of Huntington Bancshares stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the completion of the transaction, the vice president directly owned 42,398 shares in the company, valued at $802,594.14. This represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 27,700 shares of company stock valued at $540,401 and sold 108,986 shares valued at $1,785,958. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.