Morningstar Investment Management LLC Has $404,000 Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Morningstar Investment Management LLC reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 77.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,829 shares of the bank’s stock after selling 83,246 shares during the period. Morningstar Investment Management LLC’s holdings in Huntington Bancshares were worth $404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arvest Bank Trust Division bought a new position in shares of Huntington Bancshares in the 3rd quarter worth $2,381,000. Mediolanum International Funds Ltd bought a new position in shares of Huntington Bancshares in the 4th quarter worth $422,000. Donoghue Forlines LLC bought a new position in shares of Huntington Bancshares in the 4th quarter worth $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Huntington Bancshares by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after purchasing an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd bought a new position in shares of Huntington Bancshares in the 3rd quarter worth $3,454,000. 80.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler reduced their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Barclays lifted their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $16.83 on Thursday. The stock’s 50-day simple moving average is $16.72 and its 200 day simple moving average is $15.92. The company has a market cap of $24.45 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

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.