Investors Research Corp Sells 4,500 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Investors Research Corp reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,028 shares of the bank’s stock after selling 4,500 shares during the period. Investors Research Corp’s holdings in Huntington Bancshares were worth $750,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC boosted its stake in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new stake in shares of Huntington Bancshares in the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. raised its stake in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after buying an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the third quarter worth $31,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the third quarter worth $32,000. Institutional investors own 80.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on HBAN shares. Piper Sandler raised their price objective 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. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Barclays lifted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Citigroup upped their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.26.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded down $0.02 during mid-day trading on Thursday, reaching $17.45. The company’s stock had a trading volume of 2,426,030 shares, compared to its average volume of 15,981,833. Huntington Bancshares Incorporated has a 52 week low of $10.73 and a 52 week high of $17.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $25.35 billion, a PE ratio of 16.80, a P/E/G ratio of 3.50 and a beta of 1.03. The stock has a fifty day moving average of $15.58 and a two-hundred day moving average of $14.41.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm 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 $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.55%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was 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 approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock valued at $757,356 over the last ninety days. 0.89% of the stock is owned by insiders.

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.