Teachers Retirement System of The State of Kentucky Decreases Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Teachers Retirement System of The State of Kentucky reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,493 shares of the bank’s stock after selling 6,359 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Huntington Bancshares were worth $1,595,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in HBAN. State Street Corp grew its stake in Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after buying an additional 7,439,909 shares during the last quarter. FMR LLC grew its stake in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after acquiring an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Huntington Bancshares by 194.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after purchasing an additional 2,116,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 1,522,767 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.94 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $24.61 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.47 and a beta of 1.06. The business’s 50 day moving average is $16.75 and its two-hundred day moving average is $14.91. Huntington Bancshares Incorporated has a 12-month low of $12.02 and a 12-month high of $18.44.

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

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Buying and Selling

In other news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HBAN shares. The Goldman Sachs Group upped their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler raised their target price on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Citigroup boosted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research note on Thursday, December 12th. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.41.

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.