Voya Investment Management LLC Has $6.84 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Voya Investment Management LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 420,542 shares of the bank’s stock after selling 36,048 shares during the quarter. Voya Investment Management LLC’s holdings in Huntington Bancshares were worth $6,842,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Creative Capital Management Investments LLC increased its position in shares of Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after acquiring an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd grew its position in Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Huntington Bancshares during the 4th quarter worth approximately $37,000. Transce3nd LLC acquired a new stake in Huntington Bancshares during the 4th quarter valued at $48,000. Finally, Asset Dedication LLC boosted its position in shares of Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after buying an additional 1,260 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on HBAN. Truist Financial dropped their price target on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research note on Friday, March 7th. Piper Sandler lowered their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Argus set a $17.00 price objective on Huntington Bancshares in a research report on Friday. Finally, Morgan Stanley dropped their target price on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.45.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,051 shares of company stock worth $2,992,685 in the last ninety days. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Up 0.4 %

Shares of NASDAQ:HBAN opened at $14.64 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market cap of $21.39 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.33 and a beta of 0.89. The stock’s 50-day moving average is $14.52 and its 200-day moving average is $15.99.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the business posted $0.27 EPS. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares announced that its board has authorized a share buyback plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.