KRS Capital Management LLC Cuts Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

KRS Capital Management LLC reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,042 shares of the bank’s stock after selling 2,278 shares during the quarter. KRS Capital Management LLC’s holdings in Huntington Bancshares were worth $310,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in shares of Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after acquiring an additional 1,522,767 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after acquiring an additional 473,893 shares in the last quarter. FMR LLC increased its position in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 over the last quarter. Corporate insiders own 0.92% of the company’s stock.

Huntington Bancshares Trading Up 1.0 %

HBAN traded up $0.17 on Friday, reaching $17.01. 31,298,513 shares of the company’s stock were exchanged, compared to its average volume of 13,238,144. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $24.71 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 1.07. The company’s 50 day moving average is $17.06 and its 200-day moving average is $15.45. Huntington Bancshares Incorporated has a twelve month low of $12.02 and a twelve month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the business earned $0.27 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.64%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Piper Sandler increased their price target on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.76.

About Huntington Bancshares

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.