Huntington Bancshares Incorporated $HBAN Stake Lessened by Oak Thistle LLC

Oak Thistle LLC trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 24.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,843 shares of the bank’s stock after selling 60,103 shares during the period. Huntington Bancshares comprises approximately 0.5% of Oak Thistle LLC’s portfolio, making the stock its 23rd biggest holding. Oak Thistle LLC’s holdings in Huntington Bancshares were worth $3,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock valued at $3,056,459,000 after purchasing an additional 680,601 shares during the last quarter. Boston Partners grew its position in shares of Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after purchasing an additional 2,363,905 shares during the last quarter. Invesco Ltd. grew its position in shares of Huntington Bancshares by 1.5% in the third quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after purchasing an additional 861,263 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after purchasing an additional 4,640,302 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Huntington Bancshares by 4.7% in the third quarter. Federated Hermes Inc. now owns 21,292,946 shares of the bank’s stock valued at $367,729,000 after purchasing an additional 956,933 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.88 on Wednesday. Huntington Bancshares Incorporated has a 1 year low of $12.08 and a 1 year high of $19.45. The firm has a 50 day moving average of $16.69 and a 200-day moving average of $16.76. 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 $32.35 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter last year, the firm posted $0.34 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, March 18th. Huntington Bancshares’s payout ratio is currently 44.60%.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III bought 1,127 shares of the stock in a transaction on Monday, March 9th. The stock was purchased at an average price of $25.39 per share, with a total value of $28,614.53. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately $101,560. The trade was a 39.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the completion of the transaction, the vice president directly owned 42,398 shares of the company’s stock, valued at $802,594.14. This trade represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. 0.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HBAN has been the topic of several research analyst reports. Jefferies Financial Group lowered their price target on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. DA Davidson decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Evercore decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday. Raymond James Financial lifted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.13.

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.