Systematic Financial Management LP Has $1.86 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Systematic Financial Management LP decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,290 shares of the bank’s stock after selling 720 shares during the quarter. Systematic Financial Management LP’s holdings in Huntington Bancshares were worth $1,860,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in HBAN. Creative Capital Management Investments LLC raised its stake in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after buying an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after buying an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $37,000. Transce3nd LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $48,000. Finally, Asset Dedication LLC raised its stake in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after buying an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This represents a 10.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.18 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The firm’s 50 day moving average price is $14.46 and its two-hundred day moving average price is $15.97. The firm has a market cap of $23.63 billion, a P/E ratio of 13.15, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $0.27 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares announced that its board has authorized a stock buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to buy up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HBAN shares. Argus set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, April 25th. Stephens reiterated an “equal weight” rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada dropped their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, Citigroup dropped their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.58.

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.