Mutual of America Capital Management LLC Cuts Holdings in Huntington Bancshares Incorporated $HBAN

Mutual of America Capital Management LLC cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 167,073 shares of the bank’s stock after selling 1,991 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Huntington Bancshares were worth $2,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HBAN. AQR Capital Management LLC boosted its holdings in Huntington Bancshares by 274.9% during the first quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock worth $157,292,000 after purchasing an additional 7,889,004 shares during the last quarter. Invesco Ltd. boosted its holdings in Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock worth $858,371,000 after purchasing an additional 4,586,607 shares during the last quarter. Amundi boosted its holdings in Huntington Bancshares by 26.2% during the first quarter. Amundi now owns 22,011,639 shares of the bank’s stock worth $330,395,000 after purchasing an additional 4,576,432 shares during the last quarter. Nuveen LLC purchased a new position in Huntington Bancshares during the first quarter worth about $50,078,000. Finally, Deutsche Bank AG boosted its holdings in Huntington Bancshares by 47.7% during the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank’s stock worth $133,145,000 after purchasing an additional 2,865,727 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.07 on Friday. The company’s 50 day moving average is $17.02 and its 200-day moving average is $16.18. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The firm has a market cap of $23.44 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 0.69 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The company had revenue of $469.00 million for the quarter. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares’s payout ratio is 43.36%.

Analyst Ratings Changes

Several brokerages have commented on HBAN. Cowen reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Monday. Citigroup lifted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Truist Financial lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, DA Davidson lifted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $19.76.

Insider Activity

In other news, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the sale, the executive vice president owned 299,361 shares of the company’s stock, valued at $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.89% of the stock is currently owned by company insiders.

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.