Oak Thistle LLC Reduces Stake in Huntington Bancshares Incorporated $HBAN

Oak Thistle LLC reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 24.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,843 shares of the bank’s stock after selling 60,103 shares during the period. Huntington Bancshares comprises 0.5% of Oak Thistle LLC’s investment portfolio, making the stock its 23rd biggest position. Oak Thistle LLC’s holdings in Huntington Bancshares were worth $3,276,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new position in Huntington Bancshares during the third quarter worth $26,000. South Plains Financial Inc. increased its position in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares in the last quarter. Accredited Wealth Management LLC increased its position in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Huntington Bancshares during the third quarter worth $31,000. Finally, AlphaCore Capital LLC purchased a new position in Huntington Bancshares during the third quarter worth $33,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research report on Friday, January 23rd. JPMorgan Chase & Co. lowered their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James Financial lifted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Barclays lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Finally, Jefferies Financial Group lowered their price objective on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.13.

Insider Activity at Huntington Bancshares

In other news, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. This represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Torgow acquired 14,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was acquired at an average cost of $17.81 per share, with a total value of $252,902.00. Following the completion of the acquisition, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. This represents a 1.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 27,700 shares of company stock valued at $540,401 and sold 108,986 shares valued at $1,785,958. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Trading Down 0.4%

HBAN opened at $15.88 on Wednesday. The firm has a market capitalization of $32.35 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.64 and a beta of 0.95. The firm’s 50 day moving average is $16.69 and its 200-day moving average is $16.76. Huntington Bancshares Incorporated has a 52-week low of $12.08 and a 52-week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm posted $0.34 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares’s dividend payout ratio is 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.