Teacher Retirement System of Texas Invests $221,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Teacher Retirement System of Texas purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,594 shares of the bank’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HBAN. Creative Capital Management Investments LLC increased its position in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares during the period. Y.D. More Investments Ltd boosted its stake in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $37,000. Asset Dedication LLC raised its stake in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after buying an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares during the period. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HBAN shares. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Citigroup reduced their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Truist Financial raised their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.18.

Insider Activity

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction on 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 transaction, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % 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 valued at $1,631,151 in the last quarter. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Trading Up 1.7 %

Huntington Bancshares stock opened at $15.21 on Thursday. The stock has a 50-day moving average price of $15.95 and a 200 day moving average price of $16.16. The company has a market capitalization of $22.22 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth 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. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.27 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.