Kentucky Retirement Systems Insurance Trust Fund Sells 3,741 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,003 shares of the bank’s stock after selling 3,741 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Huntington Bancshares were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. Kingsview Wealth Management LLC grew its stake in shares of Huntington Bancshares by 6.2% in the first quarter. Kingsview Wealth Management LLC now owns 20,364 shares of the bank’s stock worth $284,000 after acquiring an additional 1,188 shares during the last quarter. Acadian Asset Management LLC bought a new position in Huntington Bancshares in the 1st quarter worth about $378,000. O Shaughnessy Asset Management LLC boosted its stake in Huntington Bancshares by 14.0% in the 1st 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 in the last quarter. UniSuper Management Pty Ltd grew its position 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 purchasing an additional 59,774 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Huntington Bancshares by 21.2% during the 1st quarter. Bessemer Group Inc. now owns 17,241 shares of the bank’s stock valued at $241,000 after purchasing an additional 3,010 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HBAN. Citigroup upped their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Evercore ISI lifted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.09.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.80 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a twelve month low of $10.73 and a twelve month high of $17.97. The business has a 50-day moving average price of $15.45 and a 200-day moving average price of $14.36. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 3.53 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, topping 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.48%. Huntington Bancshares’s payout ratio is 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.