The Manufacturers Life Insurance Company Lowers Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

The Manufacturers Life Insurance Company cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,433,302 shares of the bank’s stock after selling 81,776 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Huntington Bancshares were worth $79,870,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Heritage Wealth Management Inc. acquired a new stake in Huntington Bancshares in the 2nd quarter worth about $744,000. Robeco Institutional Asset Management B.V. raised its stake in Huntington Bancshares by 40.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after purchasing an additional 55,865 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Huntington Bancshares by 531.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after purchasing an additional 968,331 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Huntington Bancshares by 221.8% during the first quarter. Cetera Investment Advisers now owns 756,408 shares of the bank’s stock worth $10,552,000 after buying an additional 521,372 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 in the last 90 days. Company insiders own 0.92% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $18.00 on Thursday. The business’s fifty day moving average price is $15.86 and its 200 day moving average price is $14.53. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $18.44. The company has a market capitalization of $26.15 billion, a PE ratio of 17.31, a P/E/G ratio of 3.63 and a beta of 1.03. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

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 $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.44%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HBAN shares. Piper Sandler raised their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley upped their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Citigroup lifted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.62.

Huntington Bancshares Company 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.