Huntington Bancshares Incorporated (NASDAQ:HBAN) Position Reduced by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,210 shares of the bank’s stock after selling 780 shares during the period. Kentucky Retirement Systems’ holdings in Huntington Bancshares were worth $1,439,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Lazard Asset Management LLC grew its position in Huntington Bancshares by 251,152.2% during the 1st quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after purchasing an additional 173,295 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Huntington Bancshares by 53.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after buying an additional 564,729 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Huntington Bancshares by 8.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after buying an additional 10,795 shares during the period. Goldman Sachs Group Inc. lifted its stake in Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after acquiring an additional 1,838,019 shares in the last quarter. Finally, KBC Group NV boosted its position in Huntington Bancshares by 715.0% during 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 period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBAN. Evercore ISI reduced their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Friday, July 26th. Morgan Stanley boosted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Argus increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Piper Sandler boosted their target price on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned 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 an average price target of $15.59.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Huntington Bancshares news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now owns 65,899 shares in the company, valued at $987,167.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Down 0.7 %

Huntington Bancshares stock opened at $14.86 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The firm has a fifty day moving average price of $14.34 and a two-hundred day moving average price of $13.73. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 2.90 and a beta of 1.05.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.17%. Huntington Bancshares’s payout ratio is 55.86%.

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.