Federated Hermes Inc. Lowers Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Federated Hermes Inc. lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,605,303 shares of the bank’s stock after selling 4,176,143 shares during the period. Huntington Bancshares makes up approximately 0.7% of Federated Hermes Inc.’s portfolio, making the stock its 22nd biggest holding. Federated Hermes Inc. owned about 1.35% of Huntington Bancshares worth $318,978,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Carlson Capital Management grew its holdings in Huntington Bancshares by 0.4% during the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank’s stock worth $2,661,000 after acquiring an additional 692 shares during the period. Farther Finance Advisors LLC increased its position in Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock worth $200,000 after buying an additional 699 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after purchasing an additional 702 shares during the last quarter. Lantz Financial LLC raised its position in shares of Huntington Bancshares by 6.1% in the fourth quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock valued at $224,000 after buying an additional 790 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its holdings in Huntington Bancshares by 7.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock valued at $191,000 after acquiring an additional 795 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBAN has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler cut their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $17.94.

Insider Buying and Selling

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares of the company’s stock, valued at $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,781 shares of company stock valued at $1,631,151 over the last quarter. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 6.4 %

Shares of HBAN stock opened at $12.60 on Friday. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The firm has a market capitalization of $18.41 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The stock has a fifty day moving average of $15.79 and a two-hundred day moving average of $16.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company earned $0.27 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a dividend of $0.155 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.92%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

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.