Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Verity & Verity LLC

Verity & Verity LLC lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,939 shares of the bank’s stock after selling 3,025 shares during the quarter. Verity & Verity LLC’s holdings in Huntington Bancshares were worth $539,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Huntington Bancshares by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after buying an additional 2,218,020 shares in the last quarter. Invesco Ltd. grew its stake in 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 purchasing an additional 2,310,502 shares in the last quarter. FMR LLC grew its stake in 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 purchasing an additional 8,759,871 shares in the last quarter. Victory Capital Management Inc. grew its stake in 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 purchasing an additional 1,506,606 shares in the last quarter. Finally, Norges Bank acquired a new stake in Huntington Bancshares during the 4th quarter valued at approximately $302,826,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.8%

Shares of Huntington Bancshares stock opened at $15.96 on Friday. The business’s fifty day moving average price is $14.90 and its two-hundred day moving average price is $15.80. 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 has a market capitalization of $23.31 billion, a P/E ratio of 12.98, a PEG ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating 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 return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the previous year, the business earned $0.27 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s payout ratio is currently 47.33%.

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

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of recent analyst reports. Argus set a $17.00 price objective on Huntington Bancshares in a research note on Friday, April 25th. TD Cowen initiated coverage on Huntington Bancshares in a research note on Thursday, May 15th. They set a “buy” rating and a $20.00 price objective for the company. Morgan Stanley lowered their price objective on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Truist Financial decreased their target price on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Cowen assumed coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They issued a “buy” rating for the company. One equities 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.83.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. The trade was a 6.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the sale, the chief financial officer now directly owns 277,348 shares in the company, valued at $3,982,717.28. This represents a 17.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,917 shares of company stock valued at $2,897,659 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

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.