Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Lynch & Associates IN

Lynch & Associates IN reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,250 shares of the bank’s stock after selling 3,500 shares during the quarter. Lynch & Associates IN’s holdings in Huntington Bancshares were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBAN. Arvest Bank Trust Division acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at about $2,381,000. Heritage Wealth Management Inc. acquired a new position in Huntington Bancshares during the second quarter valued at approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after buying an additional 44,662 shares during the period. Petiole USA ltd acquired a new stake in shares of Huntington Bancshares in the third quarter worth $3,454,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Huntington Bancshares by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after acquiring an additional 55,602 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded down $0.41 during trading hours on Friday, reaching $16.02. The company’s stock had a trading volume of 16,406,382 shares, compared to its average volume of 15,721,612. The stock has a market cap of $23.27 billion, a PE ratio of 15.40, a PEG ratio of 3.42 and a beta of 1.07. Huntington Bancshares Incorporated has a 52 week low of $12.02 and a 52 week high of $18.44. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $17.04 and a 200 day simple moving average of $15.30.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates 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 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.87%. The ex-dividend date was Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

Analyst Ratings Changes

HBAN has been the topic of several recent research reports. Truist Financial assumed coverage on Huntington Bancshares in a research report on Tuesday. They set a “buy” rating and a $19.00 price target on the stock. Evercore ISI raised their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Citigroup raised their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.76.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the company’s 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 completion of the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 over the last three months. Corporate insiders own 0.89% of the company’s stock.

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.