Zurcher Kantonalbank Zurich Cantonalbank Sells 141,669 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 16.8% during the 4th quarter, Holdings Channel reports. The firm owned 702,797 shares of the bank’s stock after selling 141,669 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Huntington Bancshares were worth $11,435,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Creative Capital Management Investments LLC boosted its position in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after buying an additional 1,578 shares during the period. Y.D. More Investments Ltd raised its stake in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $37,000. Asset Dedication LLC boosted its holdings in shares of Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.55 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.44. The company’s 50-day moving average is $16.45 and its 200 day moving average is $16.12.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating 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 quarter in the previous year, the business earned $0.27 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm 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. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s payout ratio is currently 50.41%.

Analysts Set New Price Targets

A number of research analysts have commented on HBAN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their target price on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reiterated an “equal weight” rating and issued a $18.50 price target on shares of Huntington Bancshares in a report on Friday, February 7th. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $18.24.

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.