AssuredPartners Investment Advisors LLC Cuts Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

AssuredPartners Investment Advisors LLC decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.8% in the first quarter, HoldingsChannel reports. The firm owned 13,929 shares of the bank’s stock after selling 1,347 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in Huntington Bancshares were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HBAN. National Bank of Canada FI lifted its holdings in shares of Huntington Bancshares by 220.9% in the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock valued at $59,661,000 after acquiring an additional 2,524,077 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Huntington Bancshares by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock valued at $13,832,000 after acquiring an additional 129,106 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of Huntington Bancshares in the 4th quarter valued at about $189,000. IFP Advisors Inc lifted its holdings in shares of Huntington Bancshares by 120.6% in the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank’s stock valued at $73,000 after acquiring an additional 2,462 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Huntington Bancshares by 14.6% in the 4th quarter. Global Retirement Partners LLC now owns 11,069 shares of the bank’s stock valued at $180,000 after acquiring an additional 1,407 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Truist Financial increased their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, June 13th. Keefe, Bruyette & Woods decreased their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Cowen began coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. TD Cowen began coverage on shares of Huntington Bancshares in a research note on Thursday, May 15th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Argus set a $17.00 price target on shares of Huntington Bancshares in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.08.

Insider Activity

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, the vice president now directly owns 326,456 shares of the company’s stock, valued at approximately $4,469,182.64. This represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 3,434 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $14.50, for a total transaction of $49,793.00. Following the completion of the sale, the insider now directly owns 66,847 shares in the company, valued at approximately $969,281.50. The trade was a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 214,375 shares of company stock valued at $3,049,277 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $16.28 on Thursday. The firm’s fifty day simple moving average is $15.39 and its two-hundred day simple moving average is $15.67. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The firm has a market capitalization of $23.78 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.24 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $0.27 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 3.81%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares declared that its Board of Directors has authorized a share repurchase program on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.