Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Fruth Investment Management

Fruth Investment Management lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.4% in the third quarter, HoldingsChannel reports. The firm owned 17,451 shares of the bank’s stock after selling 1,000 shares during the quarter. Fruth Investment Management’s holdings in Huntington Bancshares were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Boston Partners boosted its position in Huntington Bancshares by 20.4% during the 1st 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 during the period. Victory Capital Management Inc. boosted its position in Huntington Bancshares by 0.4% during the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after purchasing an additional 65,355 shares during the period. Dimensional Fund Advisors LP boosted its position in Huntington Bancshares by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after purchasing an additional 561,565 shares during the period. Goldman Sachs Group Inc. boosted its position in Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Huntington Bancshares by 9.5% during the 2nd quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after acquiring an additional 566,015 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In other news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now owns 65,899 shares in the company, valued at $987,167.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the transaction, the insider now owns 65,899 shares in the company, valued at $987,167.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on HBAN shares. Jefferies Financial Group reduced their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Argus boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Citigroup boosted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Piper Sandler boosted their price target on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.71.

Huntington Bancshares Stock Up 0.8 %

NASDAQ:HBAN opened at $15.52 on Tuesday. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $15.58. The firm has a market capitalization of $22.49 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.77 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The business’s fifty day moving average price is $14.40 and its 200 day moving average price is $13.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the prior year, the company earned $0.35 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a $0.155 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.99%. Huntington Bancshares’s dividend payout ratio is 55.86%.

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.