Portfolio Design Labs LLC Sells 1,683 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Portfolio Design Labs LLC trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,157 shares of the bank’s stock after selling 1,683 shares during the period. Portfolio Design Labs LLC’s holdings in Huntington Bancshares were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake 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 period. Charles Schwab Investment Management Inc. raised its stake in shares of Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after purchasing an additional 1,522,767 shares during the period. Geode Capital Management LLC raised its stake in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares during the period. FMR LLC raised its stake in shares of Huntington Bancshares by 16.8% during the 3rd 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 during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HBAN shares. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. DA Davidson boosted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Truist Financial boosted their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Barclays boosted their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Evercore ISI boosted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Stock Down 1.6 %

Shares of NASDAQ HBAN opened at $16.59 on Thursday. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.41 and a beta of 1.07. The business has a 50-day moving average of $16.79 and a 200-day moving average of $15.85.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the business earned $0.27 earnings per share. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.74%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.