Caprock Group LLC Trims Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Caprock Group LLC cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,423 shares of the bank’s stock after selling 4,701 shares during the quarter. Caprock Group LLC’s holdings in Huntington Bancshares were worth $393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of 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 valued at $2,417,000 after purchasing an additional 173,295 shares during the last quarter. Heritage Wealth Management Inc. purchased a new stake in Huntington Bancshares during the 2nd quarter valued at about $744,000. Robeco Institutional Asset Management B.V. grew its position in Huntington Bancshares by 40.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after purchasing an additional 55,865 shares during the last quarter. SG Americas Securities LLC grew its position in Huntington Bancshares by 531.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after purchasing an additional 968,331 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.89 on Friday. The firm’s 50 day moving average price is $15.72 and its 200-day moving average price is $14.47. Huntington Bancshares Incorporated has a twelve month low of $10.73 and a twelve month high of $17.98. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $25.99 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $0.36 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. DA Davidson increased their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays upped their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Piper Sandler upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $16.26.

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.