Envestnet Portfolio Solutions Inc. Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 205,789 shares of the bank’s stock after selling 12,032 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Huntington Bancshares were worth $3,348,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Huntington Bancshares during the 4th quarter valued at approximately $150,444,000. State Street Corp grew its position in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after buying an additional 7,439,909 shares during the period. Amundi increased its holdings in Huntington Bancshares by 26.7% in the fourth quarter. Amundi now owns 17,435,207 shares of the bank’s stock valued at $286,460,000 after buying an additional 3,671,235 shares in the last quarter. FMR LLC raised its position in shares of Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after acquiring an additional 3,410,597 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after acquiring an additional 2,218,020 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Up 1.4 %

NASDAQ HBAN opened at $14.97 on Thursday. The business’s fifty day simple moving average is $16.28 and its 200-day simple moving average is $16.12. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market cap of $21.87 billion, a PE ratio of 12.17, a P/E/G ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.14%. Huntington Bancshares’s payout ratio is 50.41%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HBAN shares. Truist Financial lifted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group increased their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Piper Sandler decreased their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley cut their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.35.

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.