Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Fuller & Thaler Asset Management Inc.

Fuller & Thaler Asset Management Inc. lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 33.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,598 shares of the bank’s stock after selling 792 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Huntington Bancshares were worth $26,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Arvest Bank Trust Division purchased a new position in Huntington Bancshares during the third quarter worth approximately $2,381,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $1,389,000. Franklin Resources Inc. grew its stake in Huntington Bancshares by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after acquiring an additional 55,602 shares during the period. Principal Financial Group Inc. increased its holdings in Huntington Bancshares by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank’s stock worth $25,627,000 after acquiring an additional 112,146 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Huntington Bancshares by 10.2% during the fourth quarter. GAMMA Investing LLC now owns 39,656 shares of the bank’s stock worth $645,000 after acquiring an additional 3,668 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $14.40 on Friday. The firm has a 50 day simple moving average of $14.60 and a 200-day simple moving average of $15.99. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 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%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business posted $0.27 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.31%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Argus set a $17.00 price objective on Huntington Bancshares in a report on Friday. Barclays increased their target price on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial lowered their price target on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now owns 47,950 shares of the company’s stock, valued at $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,617 shares of company stock valued at $2,942,892 over the last 90 days. 0.89% of the stock is owned by insiders.

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.