Shell Asset Management Co. Trims Stock Holdings in Huntington Bancshares Incorporated $HBAN

Shell Asset Management Co. trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 60.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,611 shares of the bank’s stock after selling 121,984 shares during the quarter. Shell Asset Management Co.’s holdings in Huntington Bancshares were worth $1,358,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Huntington Bancshares in the second quarter valued at approximately $374,474,000. Fisher Asset Management LLC increased its stake in Huntington Bancshares by 1,700.0% in the 2nd quarter. Fisher Asset Management LLC now owns 3,351,087 shares of the bank’s stock valued at $56,164,000 after buying an additional 3,164,915 shares during the period. Jefferies Financial Group Inc. raised its position in Huntington Bancshares by 14,950.0% during the 2nd quarter. Jefferies Financial Group Inc. now owns 3,004,729 shares of the bank’s stock worth $50,359,000 after buying an additional 2,984,764 shares during the last quarter. Boston Partners raised its position in Huntington Bancshares by 4.8% during the 2nd quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock worth $1,020,382,000 after buying an additional 2,776,429 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Huntington Bancshares by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank’s stock worth $2,954,792,000 after acquiring an additional 2,343,244 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 64,587 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the transaction, the insider owned 534,640 shares of the company’s stock, valued at $8,222,763.20. This trade represents a 10.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Amit Dhingra sold 10,000 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider owned 155,634 shares in the company, valued at approximately $2,879,229. This trade represents a 6.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,732 shares of company stock worth $1,923,233 over the last ninety days. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on HBAN. DA Davidson reaffirmed a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a report on Tuesday, October 28th. Piper Sandler upped their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Stephens increased their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Huntington Bancshares Price Performance

HBAN opened at $17.26 on Monday. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The company’s 50 day simple moving average is $17.84 and its 200 day simple moving average is $17.00. The stock has a market capitalization of $27.18 billion, a PE ratio of 12.42, a P/E/G ratio of 0.69 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.