Salzhauer Michael Sells 2,000 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Salzhauer Michael reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,337 shares of the bank’s stock after selling 2,000 shares during the quarter. Salzhauer Michael’s holdings in Huntington Bancshares were worth $215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its position in shares of Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank’s stock worth $33,000 after purchasing an additional 1,869 shares in the last quarter. Transce3nd LLC bought a new stake in Huntington Bancshares during the fourth quarter worth about $48,000. Venturi Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares in the last quarter. Curat Global LLC bought a new position in shares of Huntington Bancshares in the first quarter valued at approximately $52,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $70,000. 80.72% of the stock is owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 25,419 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total transaction of $347,731.92. Following the sale, the insider now owns 70,281 shares of the company’s stock, valued at $961,444.08. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the sale, the vice president now directly owns 326,456 shares of the company’s stock, valued at $4,469,182.64. This represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,375 shares of company stock valued at $3,049,277 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of HBAN opened at $16.28 on Thursday. The stock has a market cap of $23.78 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The stock’s 50-day moving average price is $15.39 and its two-hundred day moving average price 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 (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. During the same quarter last year, the firm earned $0.27 EPS. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

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

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.81%. Huntington Bancshares’s dividend payout ratio is 47.33%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of recent analyst reports. Citigroup dropped their price target on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. Truist Financial raised their target price on Huntington Bancshares from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Royal Bank Of Canada cut their price target on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Robert W. Baird raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.08.

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.