Delta Global Management LP Trims Holdings in Huntington Bancshares Incorporated $HBAN

Delta Global Management LP lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 41.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,600,176 shares of the bank’s stock after selling 1,144,843 shares during the period. Huntington Bancshares makes up about 1.3% of Delta Global Management LP’s portfolio, making the stock its 14th biggest position. Delta Global Management LP’s holdings in Huntington Bancshares were worth $27,763,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in Huntington Bancshares by 24.5% in the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after purchasing an additional 104,965 shares during the last quarter. Vanguard Group Inc. grew its stake in Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock valued at $3,056,459,000 after purchasing an additional 680,601 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Huntington Bancshares by 3.5% in the third quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock worth $159,543,000 after acquiring an additional 314,544 shares in the last quarter. Fieldview Capital Management LLC boosted its holdings in Huntington Bancshares by 15.9% in the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock worth $8,270,000 after acquiring an additional 65,828 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Huntington Bancshares by 16.3% in the fourth quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after acquiring an additional 395,489 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, Director James D. Rollins III purchased 4,798 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at $203,000. This trade represents a 92.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 33,500 shares of company stock worth $617,542 in the last three months. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on HBAN shares. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Wolfe Research lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. The Goldman Sachs Group lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. DA Davidson lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 16th. Finally, Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Stock Down 1.8%

Shares of HBAN stock opened at $17.21 on Tuesday. The stock has a 50 day moving average of $16.32 and a 200 day moving average of $16.85. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The stock has a market cap of $34.89 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.80 and a beta of 0.94. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the previous year, the business earned $0.34 earnings per share. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.