Forsta AP Fonden Reduces Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Forsta AP Fonden decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 322,300 shares of the bank’s stock after selling 13,200 shares during the quarter. Forsta AP Fonden’s holdings in Huntington Bancshares were worth $5,244,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HBAN. UMB Bank n.a. grew its stake in Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after buying an additional 728 shares during the last quarter. Lantz Financial LLC grew its stake in shares of Huntington Bancshares by 6.1% in the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock valued at $224,000 after purchasing an additional 790 shares during the last quarter. Dillon & Associates Inc. increased its stake in shares of Huntington Bancshares by 5.9% during the third quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock worth $215,000 after acquiring an additional 795 shares during the period. McGlone Suttner Wealth Management Inc. raised its position in Huntington Bancshares by 7.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock worth $191,000 after acquiring an additional 795 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in Huntington Bancshares by 1.3% in the third quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock valued at $917,000 after buying an additional 800 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction 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 sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Trading Down 1.1 %

NASDAQ HBAN opened at $17.20 on Friday. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.44. The company’s 50 day moving average price is $16.96 and its 200 day moving average price is $15.73.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the business posted $0.27 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.4 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HBAN shares. Piper Sandler reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Evercore ISI upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.06.

About Huntington Bancshares

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.