AdvisorNet Financial Inc Sells 2,344 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

AdvisorNet Financial Inc lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 48.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,466 shares of the bank’s stock after selling 2,344 shares during the period. AdvisorNet Financial Inc’s holdings in Huntington Bancshares were worth $40,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HBAN. State Street Corp raised its position in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. FMR LLC raised its position in shares of Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Huntington Bancshares by 194.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after acquiring an additional 2,116,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after acquiring an additional 1,522,767 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In other news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays upped their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group boosted their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Evercore ISI upped their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler increased their price objective on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a 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 $17.76.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $17.01 on Friday. The company’s 50 day moving average price is $17.06 and its two-hundred day moving average price is $15.47. Huntington Bancshares Incorporated has a 12-month low of $12.02 and a 12-month high of $18.44. The firm has a market cap of $24.71 billion, a PE ratio of 16.36, a PEG ratio of 2.51 and a beta of 1.07. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.64%. Huntington Bancshares’s dividend payout ratio is 59.62%.

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.