DAVENPORT & Co LLC Decreases Stock Position in Huntington Bancshares Incorporated $HBAN

DAVENPORT & Co LLC lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 37.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,101 shares of the bank’s stock after selling 81,777 shares during the period. DAVENPORT & Co LLC’s holdings in Huntington Bancshares were worth $2,413,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Huntington Bancshares during the 2nd quarter worth approximately $374,474,000. Junto Capital Management LP purchased a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $85,690,000. Victory Capital Management Inc. boosted its stake in shares of Huntington Bancshares by 15.7% during the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after purchasing an additional 4,640,302 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Huntington Bancshares by 1,700.0% in the second quarter. Fisher Asset Management LLC now owns 3,351,087 shares of the bank’s stock worth $56,164,000 after purchasing an additional 3,164,915 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of Huntington Bancshares by 48.0% in the third quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank’s stock worth $167,119,000 after purchasing an additional 3,138,669 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBAN has been the subject of a number of recent analyst reports. Wolfe Research reiterated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, January 7th. Jefferies Financial Group cut their price target on shares of Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. DA Davidson decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Piper Sandler increased their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.

Insider Buying and Selling

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider directly owned 155,634 shares in the company, valued at $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the sale, the vice president directly owned 481,676 shares in the company, valued at approximately $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 27,700 shares of company stock valued at $540,401 and sold 108,986 shares valued at $1,785,958. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $15.08 on Friday. The firm has a market capitalization of $30.72 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.61 and a beta of 0.95. The stock has a fifty day moving average of $16.98 and a 200 day moving average of $16.86. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.1%. Huntington Bancshares’s payout ratio is currently 44.60%.

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.