Moore Capital Management LP Has $13.78 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Moore Capital Management LP reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 847,212 shares of the bank’s stock after selling 121,031 shares during the period. Moore Capital Management LP owned approximately 0.06% of Huntington Bancshares worth $13,784,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Creative Capital Management Investments LLC lifted its stake in shares of Huntington Bancshares by 17,533.3% in the fourth 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 grew its holdings in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at $37,000. Transce3nd LLC bought a new position in Huntington Bancshares in the fourth quarter worth $48,000. Finally, Asset Dedication LLC boosted its stake in 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 buying an additional 1,260 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HBAN has been the subject of several recent research reports. Truist Financial dropped their price target on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Stephens restated an “equal weight” rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Citigroup reduced their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.45.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 42,345 shares of Huntington Bancshares stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider now directly owns 592,119 shares in the company, valued at $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.22 on Monday. The company has a market capitalization of $22.23 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The business has a fifty day simple moving average of $14.35 and a two-hundred day simple moving average of $15.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the company posted $0.27 EPS. Research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.07%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.33%.

Huntington Bancshares announced that its board has approved a stock buyback plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.