Huntington Bancshares Incorporated $HBAN Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 60.8% in the 3rd quarter, Holdings Channel reports. The firm owned 78,611 shares of the bank’s stock after selling 121,984 shares during the period. Shell Asset Management Co.’s holdings in Huntington Bancshares were worth $1,358,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the second quarter valued at $30,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. First Horizon Corp acquired a new stake in Huntington Bancshares during the 3rd quarter worth about $36,000. Finally, Root Financial Partners LLC purchased a new position in shares of Huntington Bancshares in the third quarter worth approximately $44,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 64,587 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the completion of the transaction, the insider directly owned 534,640 shares in the company, valued at $8,222,763.20. The trade was a 10.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the completion of the sale, the vice president owned 42,398 shares in the company, valued at approximately $802,594.14. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,732 shares of company stock worth $1,923,233 in the last ninety days. 0.89% of the stock is owned by insiders.

Huntington Bancshares Trading Down 0.4%

Shares of NASDAQ:HBAN opened at $17.26 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $27.18 billion, a PE ratio of 12.42, a P/E/G ratio of 0.69 and a beta of 0.96. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The firm has a fifty day moving average price of $17.84 and a 200 day moving average price of $17.00.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the business posted $0.34 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. Huntington Bancshares’s payout ratio is presently 44.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HBAN shares. Raymond James Financial raised their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 23rd. UBS Group set a $21.00 price target on Huntington Bancshares in a report on Wednesday, February 4th. Truist Financial increased their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, January 12th. Finally, Morgan Stanley reduced their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.60.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.