Kentucky Retirement Systems Sells 8,026 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kentucky Retirement Systems trimmed its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 101,184 shares of the bank’s stock after selling 8,026 shares during the quarter. Kentucky Retirement Systems’ holdings in Huntington Bancshares were worth $1,487,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HBAN. Kingsview Wealth Management LLC grew its stake in Huntington Bancshares by 6.2% during the first quarter. Kingsview Wealth Management LLC now owns 20,364 shares of the bank’s stock worth $284,000 after buying an additional 1,188 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $378,000. O Shaughnessy Asset Management LLC increased its stake in Huntington Bancshares by 14.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 218,576 shares of the bank’s stock valued at $3,049,000 after acquiring an additional 26,761 shares during the last quarter. UniSuper Management Pty Ltd raised its position in Huntington Bancshares by 1,078.8% during the first quarter. UniSuper Management Pty Ltd now owns 65,315 shares of the bank’s stock valued at $911,000 after purchasing an additional 59,774 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Huntington Bancshares by 21.2% during the first quarter. Bessemer Group Inc. now owns 17,241 shares of the bank’s stock worth $241,000 after purchasing an additional 3,010 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.80 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm’s fifty day simple moving average is $15.45 and its two-hundred day simple moving average is $14.36. Huntington Bancshares Incorporated has a 12 month low of $10.73 and a 12 month high of $17.97. The stock has a market capitalization of $25.86 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 3.53 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler upped their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. DA Davidson increased their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Evercore ISI lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Argus increased their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares 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.