Charles Schwab Investment Management Inc. Purchases 1,522,767 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Charles Schwab Investment Management Inc. grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 62,708,399 shares of the bank’s stock after purchasing an additional 1,522,767 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Huntington Bancshares were worth $921,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in Huntington Bancshares in the 1st quarter worth about $378,000. O Shaughnessy Asset Management LLC lifted its position in shares of Huntington Bancshares by 14.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 218,576 shares of the bank’s stock worth $3,049,000 after purchasing an additional 26,761 shares during the last quarter. UniSuper Management Pty Ltd lifted its holdings in Huntington Bancshares by 1,078.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 65,315 shares of the bank’s stock valued at $911,000 after buying an additional 59,774 shares in the last quarter. Bessemer Group Inc. boosted its position in Huntington Bancshares by 21.2% in the 1st quarter. Bessemer Group Inc. now owns 17,241 shares of the bank’s stock valued at $241,000 after buying an additional 3,010 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Huntington Bancshares during the first quarter worth approximately $232,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred on 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 approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock worth $757,356. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.50 on Thursday. The stock’s fifty day moving average price is $15.58 and its 200 day moving average price is $14.41. Huntington Bancshares Incorporated has a 1 year low of $10.73 and a 1 year high of $17.97. 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 company has a market cap of $25.42 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 3.50 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the business posted $0.36 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.54%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Analysts Set New Price Targets

Several research analysts have commented on HBAN shares. Piper Sandler raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. DA Davidson upped their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Friday, July 26th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.26.

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.