R Squared Ltd Lowers Stock Holdings in Huntington Bancshares Incorporated $HBAN

R Squared Ltd cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 76.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,321 shares of the bank’s stock after selling 33,484 shares during the quarter. R Squared Ltd’s holdings in Huntington Bancshares were worth $162,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. State Street Corp lifted its stake in Huntington Bancshares by 4.7% in the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after purchasing an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP lifted its stake in Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares during the last quarter. Boston Partners boosted its position in Huntington Bancshares by 3.9% during the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares during the period. Finally, Invesco Ltd. boosted its position in Huntington Bancshares by 6.6% during the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after buying an additional 3,908,927 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.46 on Thursday. The firm has a market capitalization of $35.39 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.82 and a beta of 0.93. The stock has a fifty day moving average of $16.67 and a 200 day moving average of $16.90. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period in the prior year, the business earned $0.34 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. Huntington Bancshares’s dividend payout ratio is 47.69%.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders bought a total of 33,500 shares of company stock valued at $617,542 in the last three months. Corporate insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Evercore restated an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a report on Monday. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research note on Thursday, April 23rd. Finally, Wolfe Research dropped their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.25.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.