Los Angeles Capital Management LLC Sells 478,867 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Los Angeles Capital Management LLC lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 65.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,669 shares of the bank’s stock after selling 478,867 shares during the period. Los Angeles Capital Management LLC’s holdings in Huntington Bancshares were worth $3,685,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HBAN. Boston Partners increased its stake in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 0.4% during the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock worth $236,640,000 after acquiring an additional 65,355 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after purchasing an additional 561,565 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Huntington Bancshares by 9.5% in the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock valued at $85,940,000 after purchasing an additional 566,015 shares in the last quarter. Finally, abrdn plc boosted its position in shares of Huntington Bancshares by 3.9% during the third quarter. abrdn plc now owns 3,660,616 shares of the bank’s stock worth $53,976,000 after buying an additional 137,032 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the topic of several research reports. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Barclays raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Argus upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One equities research 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.09.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $17.64 on Wednesday. The company has a market cap of $25.63 billion, a P/E ratio of 16.96, a P/E/G ratio of 3.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares Incorporated has a one year low of $10.10 and a one year high of $17.85. The firm’s fifty day moving average price is $15.20 and its two-hundred day moving average price is $14.25.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is currently owned by company insiders.

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.