Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 31.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,205,650 shares of the bank’s stock after selling 2,857,786 shares during the period. Hsbc Holdings PLC’s holdings in Huntington Bancshares were worth $101,029,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Monday. Truist Financial dropped their price objective on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Stephens restated an “equal weight” rating and issued a $16.50 price target on shares of Huntington Bancshares in a research report on Monday. Finally, Royal Bank of Canada decreased their price objective on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $17.39.

Insider Buying and Selling at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 25,419 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the sale, the insider now owns 70,281 shares in the company, valued at approximately $961,444.08. This trade represents a 26.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,617 shares of company stock valued at $2,942,892. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 1.7 %

Shares of NASDAQ HBAN opened at $14.17 on Thursday. The stock has a market capitalization of $20.70 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The firm has a 50-day moving average price of $14.70 and a 200 day moving average price of $15.99. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted 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. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period last year, the firm earned $0.27 EPS. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.38%. Huntington Bancshares’s payout ratio is 47.33%.

Huntington Bancshares announced that its board has approved a share repurchase plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.