Systematic Financial Management LP Sells 720 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Systematic Financial Management LP lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,290 shares of the bank’s stock after selling 720 shares during the quarter. Systematic Financial Management LP’s holdings in Huntington Bancshares were worth $1,860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Carlson Capital Management lifted its holdings in shares of Huntington Bancshares by 0.4% in 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 last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Huntington Bancshares by 6.0% in the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock worth $200,000 after acquiring an additional 699 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after acquiring an additional 702 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock valued at $326,000 after buying an additional 762 shares during the last quarter. Finally, Lantz Financial LLC raised its holdings in Huntington Bancshares by 6.1% in the 4th 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. Institutional investors own 80.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on HBAN shares. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. TD Cowen initiated coverage on shares of Huntington Bancshares in a report on Thursday. They issued a “buy” rating and a $20.00 price objective for the company. Stephens reissued an “equal weight” rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. 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 report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $17.58.

Insiders Place Their Bets

In other news, insider Helga Houston sold 42,345 shares of Huntington Bancshares stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the sale, the insider now directly owns 592,119 shares in the company, valued at $8,715,991.68. The trade was a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares in the company, 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 312,456 shares of company stock valued at $4,464,105 in the last three months. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

HBAN opened at $16.18 on Friday. 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 $23.63 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.33 and a beta of 0.89. The firm’s fifty day moving average price is $14.46 and its two-hundred day moving average price is $15.97. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $0.27 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio is 47.33%.

Huntington Bancshares announced that its board has approved a share buyback program on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.