Wrapmanager Inc. Trims Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wrapmanager Inc. decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 29.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,997 shares of the bank’s stock after selling 6,822 shares during the quarter. Wrapmanager Inc.’s holdings in Huntington Bancshares were worth $235,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HBAN. Boston Partners raised its stake in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares during the period. Victory Capital Management Inc. grew its holdings 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 buying an additional 2,363,988 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Huntington Bancshares by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after buying an additional 561,565 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Huntington Bancshares by 9.5% in the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after buying an additional 566,015 shares in the last quarter. Finally, abrdn plc boosted its position in shares of Huntington Bancshares by 3.9% during the third quarter. abrdn plc now owns 3,660,616 shares of the bank’s stock worth $53,976,000 after acquiring an additional 137,032 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 1.5 %

NASDAQ HBAN opened at $17.54 on Wednesday. Huntington Bancshares Incorporated has a 52 week low of $10.73 and a 52 week high of $17.97. The company has a 50 day moving average price of $15.51 and a 200 day moving average price of $14.39. 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 firm has a market cap of $25.48 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 3.53 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the firm earned $0.36 EPS. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.53%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock valued at $757,356 over the last ninety days. 0.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of research reports. Barclays lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, October 18th. DA Davidson upped their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Evercore ISI boosted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.26.

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.