Nuveen Asset Management LLC Sells 31,053 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Nuveen Asset Management LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,342,519 shares of the bank’s stock after selling 31,053 shares during the period. Nuveen Asset Management LLC owned 0.23% of Huntington Bancshares worth $54,383,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. National Bank of Canada FI grew its holdings in Huntington Bancshares by 220.9% during the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock valued at $59,661,000 after purchasing an additional 2,524,077 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Huntington Bancshares by 17.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock worth $13,832,000 after acquiring an additional 129,106 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $422,000. Donoghue Forlines LLC bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $1,460,000. Finally, Fisher Asset Management LLC bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $189,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 0.5%

HBAN opened at $16.18 on Monday. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.33 and a beta of 0.89. The stock’s 50 day moving average price is $14.46 and its 200-day moving average price is $15.97. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.83%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

Huntington Bancshares announced that its Board of Directors has initiated a stock 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 reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. dropped 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. Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. TD Cowen assumed coverage on Huntington Bancshares in a research note on Thursday. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Morgan Stanley decreased their target price on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.58.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 453,129 shares of the company’s stock, valued at $6,647,402.43. This represents a 13.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,456 shares of company stock valued at $4,464,105 over the last quarter. 0.89% of the stock is owned by corporate 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.