Investment Partners LTD. Trims Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Investment Partners LTD. cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,183 shares of the bank’s stock after selling 2,820 shares during the period. Investment Partners LTD.’s holdings in Huntington Bancshares were worth $993,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners grew its stake in Huntington Bancshares by 59.3% in the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after acquiring an additional 17,365,446 shares during the period. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter worth $206,703,000. KBC Group NV increased its stake in shares of Huntington Bancshares by 715.0% in the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Huntington Bancshares by 641.5% during the 4th quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock worth $35,301,000 after acquiring an additional 2,401,067 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in Huntington Bancshares during the third quarter worth about $20,004,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HBAN. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 target price on shares of Huntington Bancshares in a research note on Tuesday, June 11th. UBS Group cut their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Evercore ISI lowered their target price on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Piper Sandler cut Huntington Bancshares from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $13.50 to $11.50 in a research note on Friday, June 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.03.

Huntington Bancshares Stock Performance

HBAN traded up $0.36 on Friday, reaching $13.14. The company had a trading volume of 4,016,228 shares, compared to its average volume of 16,812,826. The stock has a market capitalization of $19.04 billion, a PE ratio of 11.51, a P/E/G ratio of 2.40 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $14.30. The stock has a 50-day moving average price of $13.42 and a 200-day moving average price of $13.13.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.72%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insider Activity at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Huntington Bancshares news, VP Rajeev Syal sold 27,265 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $13.51, for a total value of $368,350.15. Following the completion of the sale, the vice president now owns 397,173 shares of the company’s stock, valued at $5,365,807.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Insiders have sold a total of 157,829 shares of company stock worth $2,148,623 in the last three months. 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.