Envestnet Portfolio Solutions Inc. Trims Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Envestnet Portfolio Solutions Inc. lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,789 shares of the bank’s stock after selling 12,032 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Huntington Bancshares were worth $3,348,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Frank Rimerman Advisors LLC grew its stake in shares of Huntington Bancshares by 14.7% in the fourth quarter. Frank Rimerman Advisors LLC now owns 16,325 shares of the bank’s stock worth $266,000 after acquiring an additional 2,098 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in Huntington Bancshares during the 4th quarter valued at $290,000. Poinciana Advisors Group LLC bought a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $179,000. PGGM Investments bought a new position in Huntington Bancshares in the 4th quarter worth $590,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Huntington Bancshares by 1.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 306,330 shares of the bank’s stock worth $5,002,000 after acquiring an additional 3,198 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $14.97 on Thursday. The stock has a 50 day moving average price of $16.28 and a 200-day moving average price of $16.12. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.45. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 period in the prior year, the business earned $0.27 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.14%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HBAN. 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 report on Tuesday, January 21st. Piper Sandler decreased their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Friday, March 7th. The Goldman Sachs Group lifted their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Stephens restated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.35.

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.