Caprock Group LLC Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Caprock Group LLC cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.1% in the third quarter, HoldingsChannel reports. The firm owned 26,423 shares of the bank’s stock after selling 4,701 shares during the quarter. Caprock Group LLC’s holdings in Huntington Bancshares were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Boston Partners grew its holdings in shares of Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after buying an additional 2,363,988 shares during the period. Dimensional Fund Advisors LP boosted its stake in Huntington Bancshares by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after buying an additional 561,565 shares during the period. Hsbc Holdings PLC boosted its stake in Huntington Bancshares by 9.5% during the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after buying an additional 566,015 shares during the period. Finally, abrdn plc boosted its stake in Huntington Bancshares by 3.9% during the third quarter. abrdn plc now owns 3,660,616 shares of the bank’s stock worth $53,976,000 after buying an additional 137,032 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HBAN. Citigroup lifted their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays lifted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Piper Sandler lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.26.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

HBAN opened at $17.89 on Friday. The business’s 50-day moving average is $15.72 and its two-hundred day moving average is $14.47. Huntington Bancshares Incorporated has a 1 year low of $10.73 and a 1 year high of $17.98. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $25.99 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.47%. Huntington Bancshares’s 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.