The Manufacturers Life Insurance Company Sells 81,776 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

The Manufacturers Life Insurance Company cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,433,302 shares of the bank’s stock after selling 81,776 shares during the period. The Manufacturers Life Insurance Company owned about 0.37% of Huntington Bancshares worth $79,870,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after acquiring an additional 1,522,767 shares in the last quarter. Boston Partners boosted 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 during the period. Victory Capital Management Inc. grew its stake in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 worth $208,346,000 after purchasing an additional 561,565 shares during the period. Finally, Citigroup Inc. raised its position in Huntington Bancshares by 1.9% during the 3rd quarter. Citigroup Inc. now owns 9,084,856 shares of the bank’s stock valued at $133,547,000 after purchasing an additional 168,186 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of a number of recent research reports. Barclays increased their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Evercore ISI boosted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Piper Sandler lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.62.

Huntington Bancshares Price Performance

Shares of HBAN opened at $18.00 on Thursday. 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’s fifty day moving average price is $15.86 and its 200-day moving average price is $14.53. Huntington Bancshares Incorporated has a 1-year low of $10.73 and a 1-year high of $18.44. The firm has a market capitalization of $26.15 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 3.63 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share 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 business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 over the last 90 days. 0.92% of the stock is currently owned by company insiders.

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.