Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,192 shares of the bank’s stock after selling 4,766 shares during the period. Tower Research Capital LLC TRC’s holdings in Huntington Bancshares were worth $1,923,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Huntington Bancshares by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after buying an additional 2,218,020 shares during the period. Invesco Ltd. raised its position in Huntington Bancshares by 4.6% in the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after purchasing an additional 2,310,502 shares during the period. FMR LLC grew its holdings in shares of Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock worth $528,434,000 after purchasing an additional 8,759,871 shares during the period. Victory Capital Management Inc. lifted its position in Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after buying an additional 1,506,606 shares during the last quarter. Finally, Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter worth about $302,826,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HBAN shares. Barclays upped their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Piper Sandler lowered their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Royal Bank of Canada lowered their target price on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Monday. Finally, Raymond James reiterated a “strong-buy” rating and set a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.39.

Huntington Bancshares Trading Up 3.4 %

NASDAQ:HBAN opened at $13.93 on Wednesday. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The stock has a market cap of $20.35 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a 50-day simple moving average of $14.75 and a 200-day simple moving average of $16.00.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 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 11.23% and a net margin of 16.23%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s payout ratio is 47.33%.

Huntington Bancshares declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares in the company, valued at $731,237.50. This represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,781 shares of company stock valued at $1,631,151. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Profile

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.