Hartford Investment Management Co. decreased its holding of shares in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 1.0% in the fourth quarter, as per its recent 13F submission to the Securities & Exchange Commission. The total of bank stocks owned by this institutional investor was 97,944 shares after offloading 1,018 shares during that period. The value of Hartford Investment Management Co.’s stake in Huntington Bancshares amounted to $1,246,000 at the close of the last quarter.
Several other hedge funds have also adjusted their positions in HBAN. Norges Bank initiated a new position in Huntington Bancshares during the 4th quarter, with a value of about $216,049,000. First Trust Advisors LP boosted its holdings in Huntington Bancshares by 359.4% in the 1st quarter. Currently, First Trust Advisors LP owns 18,947,586 shares of the bank’s stock valued at $212,213,000 after adding 14,823,508 shares in the previous quarter. Boston Partners increased its stake in Huntington Bancshares by 33.0% in the 3rd quarter. Boston Partners now holds 29,277,030 shares of the bank’s stock valued at $304,439,000 after acquiring an additional 7,271,405 shares during the last quarter. Schonfeld Strategic Advisors LLC expanded its position in Huntington Bancshares by 2,536.9% in the 1st quarter. Presently, Schonfeld Strategic Advisors LLC has 5,936,016 shares of the bank’s stock valued at $66,483,000 after buying an additional 5,710,903 shares in the last quarter. Lastly, Victory Capital Management Inc. grew its holdings in Huntington Bancshares by 23.7% during the 3rd quarter. Victory Capital Management Inc. now possesses 17,925,067 shares of the bank’s stock valued at $186,421,000 after acquiring an additional 3,438,552 shares in the last quarter. Institutional investors and hedge funds collectively constitute 80.72% ownership of the company’s stock.
Huntington Bancshares Stock Rises by 0.6%
Huntington Bancshares stock began trading at $13.60 on Friday. The company’s 50-day simple moving average is $13.10 and its 200-day simple moving average is $11.92. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $13.97. It has a market cap of $19.72 billion, a price-to-earnings ratio of 10.97, and a beta of 1.11. The company’s debt-to-equity ratio stands at 0.73, with current and quick ratios both at 0.87.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) recently announced its quarterly earnings on Friday, January 19th. The bank posted earnings per share of $0.27 for that quarter, surpassing the expected $0.12 by $0.15. With a net margin of 18.00% and a return on equity of 12.96%, Huntington Bancshares garnered revenue of $2.76 billion, exceeding analysts’ estimates of $1.75 billion. In the same quarter of the prior year, the company had earnings per share of $0.43. Analysts on the sell-side predict that Huntington Bancshares Incorporated is set to report an EPS of 1.2 for the current fiscal year.
Huntington Bancshares Declares Dividend
The company recently declared a quarterly dividend, which was dispensed on Monday, April 1st. Shareholders of record on Monday, March 18th received a dividend of $0.155 per share. This amounts to an annualized dividend of $0.62 and a yield of 4.56%. The ex-dividend date for this payout was Friday, March 15th. Huntington Bancshares’s payout ratio currently stands at 50.00%.
Insider Trading Activity
In recent Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock on Tuesday, February 20th in a transaction at an average price of $12.68, totaling $197,059.88. Following this transaction, the vice president now holds 303,455 shares in the company, valued at approximately $3,847,809.40. This sale was recorded in a filing with the Securities & Exchange Commission, which can be viewed here. Moreover, Director Ann B. Crane sold 58,000 shares of the company’s stock on Friday, March 8th. The shares were sold at an average price of $13.54, totaling $785,320.00. Following this sale, the director now holds 192,247 shares in the company, valued at $2,603,024.38. Details of this sale can be found here. Insiders have divested 102,241 shares of company stock, valued at $1,360,359 in the last three months. Insiders currently own 0.89% of the company’s stock.
Analyst Recommendations
HBAN has been the subject of various research analyst reports. Royal Bank of Canada raised their price target on Huntington Bancshares shares from $12.00 to $15.00 and assigned the stock an “outperform” rating on Monday, December 18th. Morgan Stanley increased their price target on Huntington Bancshares from $13.00 to $16.00 and rated the stock as “overweight” on Wednesday, February 7th. Evercore ISI also lifted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating on Thursday, March 28th. For more information, you can check out the report on StockNews.com.
