Applied Finance Capital Management LLC Cuts Stake in Huntington Bancshares Incorporated $HBAN

Applied Finance Capital Management LLC lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 34.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,968 shares of the bank’s stock after selling 31,913 shares during the period. Applied Finance Capital Management LLC’s holdings in Huntington Bancshares were worth $1,005,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Huntington Bancshares by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank’s stock valued at $2,611,094,000 after acquiring an additional 978,565 shares in the last quarter. Invesco Ltd. grew its stake in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock valued at $858,371,000 after acquiring an additional 4,586,607 shares in the last quarter. Victory Capital Management Inc. grew its stake in Huntington Bancshares by 9.2% during the 1st quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank’s stock valued at $357,670,000 after acquiring an additional 2,003,683 shares in the last quarter. Amundi grew its stake in Huntington Bancshares by 26.2% during the 1st quarter. Amundi now owns 22,011,639 shares of the bank’s stock valued at $330,395,000 after acquiring an additional 4,576,432 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Huntington Bancshares by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank’s stock valued at $301,753,000 after acquiring an additional 498,182 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HBAN shares. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley boosted their target price on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, DA Davidson boosted their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $19.37.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $15.50 on Friday. The firm’s 50 day moving average price is $17.08 and its 200-day moving average price is $16.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The firm has a market cap of $22.61 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.72 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. The firm had revenue of $469.00 million for the quarter. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Company 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.