California Public Employees Retirement System Has $34.63 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

California Public Employees Retirement System trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,722,727 shares of the bank’s stock after selling 72,083 shares during the period. California Public Employees Retirement System owned 0.19% of Huntington Bancshares worth $34,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of Huntington Bancshares by 12.0% in the fourth quarter. Blue Trust Inc. now owns 8,460 shares of the bank’s stock valued at $108,000 after buying an additional 904 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in Huntington Bancshares by 31.8% in the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock valued at $42,000 after acquiring an additional 963 shares during the last quarter. Ausdal Financial Partners Inc. increased its stake in Huntington Bancshares by 8.9% in the third quarter. Ausdal Financial Partners Inc. now owns 12,217 shares of the bank’s stock valued at $127,000 after acquiring an additional 1,000 shares during the last quarter. Quantum Private Wealth LLC increased its stake in Huntington Bancshares by 3.5% in the fourth quarter. Quantum Private Wealth LLC now owns 29,825 shares of the bank’s stock valued at $379,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KRS Capital Management LLC increased its stake in Huntington Bancshares by 4.3% in the fourth quarter. KRS Capital Management LLC now owns 24,614 shares of the bank’s stock valued at $313,000 after acquiring an additional 1,022 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,189 shares of company stock worth $2,664,978. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $13.55 on Friday. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.50 and a beta of 1.11. 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 12-month low of $9.13 and a 12-month high of $14.07. The company’s fifty day simple moving average is $13.36 and its 200 day simple moving average is $12.26.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 4.58%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of research reports. StockNews.com cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Evercore ISI boosted their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.17.

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.