NEOS Investment Management LLC Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

NEOS Investment Management LLC boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 31.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,068 shares of the bank’s stock after buying an additional 21,156 shares during the quarter. NEOS Investment Management LLC’s holdings in Huntington Bancshares were worth $1,433,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of HBAN. State Street Corp lifted its position in shares of Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares during the last quarter. FMR LLC lifted its stake in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after buying an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after buying an additional 1,506,606 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 2.2 %

NASDAQ:HBAN opened at $14.79 on Friday. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The business’s 50-day simple moving average is $16.07 and its 200 day simple moving average is $16.14.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the business posted $0.27 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.19%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insider Transactions at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,781 shares of company stock valued at $1,631,151. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 21st. Barclays upped their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Piper Sandler dropped their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Finally, Stephens reaffirmed an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.18.

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.