City Holding Co. Has $399,000 Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

City Holding Co. increased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 33.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 26,555 shares of the bank’s stock after purchasing an additional 6,710 shares during the period. City Holding Co.’s holdings in Huntington Bancshares were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the period. Invesco Ltd. boosted its stake in shares of Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after buying an additional 2,310,502 shares during the period. FMR LLC boosted its stake in shares of Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after buying an additional 8,759,871 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Huntington Bancshares by 7.4% during the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after buying an additional 1,506,606 shares during the period. Finally, Norges Bank acquired a new stake in shares of Huntington Bancshares during the 4th quarter valued at $302,826,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 70,417 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the transaction, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,456 shares of company stock worth $4,464,105. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.23 on Tuesday. The company has a market capitalization of $23.71 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company’s fifty day moving average price is $14.71 and its 200 day moving average price is $15.81.

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

Huntington Bancshares declared that its board has initiated a stock repurchase program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.82%. Huntington Bancshares’s payout ratio is 47.33%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of research reports. Morgan Stanley decreased their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. decreased their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Truist Financial decreased their target price on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Raymond James reissued a “strong-buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. Finally, Stephens reissued an “equal weight” rating and set a $16.50 target price on shares of Huntington Bancshares in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.83.

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.