Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,205,424 shares of the bank’s stock after selling 720,748 shares during the period. Huntington Bancshares comprises approximately 0.9% of Federated Hermes Inc.’s holdings, making the stock its 16th largest position. Federated Hermes Inc. owned approximately 1.95% of Huntington Bancshares worth $358,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its position in Huntington Bancshares by 2.3% in the third quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock worth $29,066,000 after acquiring an additional 62,674 shares in the last quarter. Comerica Bank bought a new stake in Huntington Bancshares in the third quarter worth approximately $5,261,000. Vest Financial LLC lifted its stake in shares of Huntington Bancshares by 16.5% in the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock worth $12,731,000 after buying an additional 141,410 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Huntington Bancshares by 199.6% in the third quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock worth $3,893,000 after buying an additional 249,356 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Huntington Bancshares by 5.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 120,744 shares of the bank’s stock worth $1,256,000 after buying an additional 5,740 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Barclays upgraded shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $12.00 to $15.00 in a research note on Tuesday, January 2nd. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Citigroup upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Morgan Stanley upped their target price on shares of Huntington Bancshares from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $14.97.

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.14 during trading hours on Thursday, hitting $13.29. The stock had a trading volume of 6,513,200 shares, compared to its average volume of 17,341,916. The company’s fifty day moving average is $13.23 and its two-hundred day moving average is $12.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87. Huntington Bancshares Incorporated has a 52 week low of $9.13 and a 52 week high of $14.07. The stock has a market capitalization of $19.27 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 2.42 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.15. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date was Friday, March 15th. Huntington Bancshares’s dividend payout ratio is currently 50.00%.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock valued at $1,360,359 in the last 90 days. 0.89% of the stock is currently owned by insiders.

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.