Corebridge Financial Inc. Sells 16,621 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Corebridge Financial Inc. trimmed its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 343,937 shares of the bank’s stock after selling 16,621 shares during the quarter. Corebridge Financial Inc.’s holdings in Huntington Bancshares were worth $5,596,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $166,000. KLP Kapitalforvaltning AS acquired a new stake in Huntington Bancshares during the 4th quarter valued at $8,035,000. Sei Investments Co. boosted its position in Huntington Bancshares by 1.8% during the fourth quarter. Sei Investments Co. now owns 665,682 shares of the bank’s stock worth $10,831,000 after purchasing an additional 11,492 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of Huntington Bancshares by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 137,694 shares of the bank’s stock valued at $2,240,000 after purchasing an additional 43,511 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of Huntington Bancshares in the fourth quarter valued at about $98,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $14.79 on Friday. The stock has a fifty day moving average of $16.07 and a 200-day moving average of $16.14. The stock has a market capitalization of $21.60 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the company earned $0.27 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.19%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This trade represents a 13.23 % 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, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,781 shares of company stock worth $1,631,151. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Stephens reiterated an “equal weight” rating and issued a $18.50 price target on shares of Huntington Bancshares in a research note on Friday, February 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Barclays lifted their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Piper Sandler lowered their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Robert W. Baird raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.18.

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.