Kentucky Retirement Systems Insurance Trust Fund Sells 3,741 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,003 shares of the bank’s stock after selling 3,741 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Huntington Bancshares were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC boosted its position in shares of Huntington Bancshares by 6.2% during the first quarter. Kingsview Wealth Management LLC now owns 20,364 shares of the bank’s stock valued at $284,000 after buying an additional 1,188 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $378,000. O Shaughnessy Asset Management LLC boosted its holdings in Huntington Bancshares by 14.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 218,576 shares of the bank’s stock valued at $3,049,000 after acquiring an additional 26,761 shares during the period. UniSuper Management Pty Ltd grew its position in Huntington Bancshares by 1,078.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 65,315 shares of the bank’s stock valued at $911,000 after acquiring an additional 59,774 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Huntington Bancshares by 21.2% in the first quarter. Bessemer Group Inc. now owns 17,241 shares of the bank’s stock worth $241,000 after purchasing an additional 3,010 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.80 on Tuesday. The firm has a market capitalization of $25.86 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 3.53 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. The company’s fifty day moving average price is $15.45 and its 200-day moving average price is $14.36. Huntington Bancshares Incorporated has a 1-year low of $10.73 and a 1-year high of $17.97.

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

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HBAN. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Argus boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Evercore ISI raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America upped their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Piper Sandler raised their price target on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.09.

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.