R Squared Ltd Sells 33,484 Shares of Huntington Bancshares Incorporated $HBAN

R Squared Ltd lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 76.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,321 shares of the bank’s stock after selling 33,484 shares during the quarter. R Squared Ltd’s holdings in Huntington Bancshares were worth $162,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MV Capital Management Inc. purchased a new position in Huntington Bancshares in the fourth quarter worth about $25,000. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $26,000. South Plains Financial Inc. raised its holdings in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the last quarter. Centennial Bank AR bought a new position in Huntington Bancshares in the 4th quarter valued at approximately $28,000. Finally, DV Equities LLC bought a new position in Huntington Bancshares in the 4th quarter valued at approximately $38,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 3.1%

HBAN stock opened at $17.46 on Thursday. The company has a market cap of $35.39 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 0.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The business’s 50-day moving average is $16.67 and its two-hundred day moving average is $16.90. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is 47.69%.

Analyst Ratings Changes

A number of analysts have commented on HBAN shares. Stephens began coverage on Huntington Bancshares in a report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 target price for the company. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research report on Thursday, April 23rd. UBS Group lifted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group lowered Huntington Bancshares from a “buy” rating to a “hold” rating and decreased their target price for the stock from $21.00 to $19.00 in a research report on Monday. Finally, Truist Financial lowered their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares of the company’s stock, valued at $4,821,462. The trade was a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have purchased 33,500 shares of company stock worth $617,542 over the last quarter. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Profile

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.