CNB Bank Lowers Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

CNB Bank trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 20.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,943 shares of the bank’s stock after selling 5,485 shares during the quarter. CNB Bank’s holdings in Huntington Bancshares were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners raised 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 buying an additional 9,533,511 shares during the last quarter. National Bank of Canada FI lifted its position in Huntington Bancshares by 832.7% during the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after acquiring an additional 2,979,768 shares during the period. Scout Investments Inc. acquired a new stake in Huntington Bancshares during the 1st quarter worth approximately $35,428,000. Point72 Asset Management L.P. grew its stake 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, AMF Tjanstepension AB acquired a new position in shares of Huntington Bancshares in the first quarter valued at approximately $24,100,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.36 on Friday. The company has a 50-day moving average of $14.56 and a two-hundred day moving average of $13.93. The stock has a market cap of $22.26 billion, a P/E ratio of 13.84, a PEG ratio of 2.77 and a beta of 1.04. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $16.03. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed 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. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the sale, the insider now directly owns 65,899 shares of the company’s stock, valued at $987,167.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the transaction, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of analyst reports. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Friday, July 26th. Bank of America increased their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Piper Sandler lifted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday. Finally, Jefferies Financial Group dropped their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.91.

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.