Pettee Investors Inc. Has $397,000 Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pettee Investors Inc. trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,427 shares of the bank’s stock after selling 1,600 shares during the period. Pettee Investors Inc.’s holdings in Huntington Bancshares were worth $397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arvest Bank Trust Division acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $2,381,000. Mediolanum International Funds Ltd acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $422,000. Donoghue Forlines LLC acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares in the last quarter. Finally, Petiole USA ltd acquired a new position in Huntington Bancshares during the third quarter valued at approximately $3,454,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.14 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The stock has a market cap of $22.01 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.33 and a beta of 1.07. The company’s fifty day moving average is $16.55 and its 200 day moving average is $16.11.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping 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 period in the previous year, the business earned $0.27 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.10%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.41%.

Analysts Set New Price Targets

Several brokerages have commented on HBAN. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Truist Financial boosted their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Citigroup boosted their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a 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 $18.24.

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.