Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,066 shares of the bank’s stock after selling 3,792 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Huntington Bancshares were worth $928,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Canada Post Corp Registered Pension Plan bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $781,000. XTX Topco Ltd purchased a new stake in Huntington Bancshares during the fourth quarter valued at about $2,243,000. CreativeOne Wealth LLC boosted its stake in Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock worth $326,000 after purchasing an additional 762 shares during the period. Cohen & Steers Inc. boosted its position in shares of Huntington Bancshares by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 24,453 shares of the bank’s stock worth $398,000 after buying an additional 1,209 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new position in Huntington Bancshares during the 4th quarter valued at about $317,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 3.0 %

Shares of HBAN opened at $13.66 on Friday. 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 Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.33 and a beta of 0.89. The business’s fifty day moving average price is $14.86 and its two-hundred day moving average price is $16.01.

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, beating 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%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm earned $0.27 earnings per share. On average, analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share 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 issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.54%. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Huntington Bancshares declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Stephens reaffirmed an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Robert W. Baird raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.94.

Insider Activity at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,781 shares of company stock worth $1,631,151 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

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.