Nuveen Asset Management LLC Sells 31,053 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Nuveen Asset Management LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,342,519 shares of the bank’s stock after selling 31,053 shares during the quarter. Nuveen Asset Management LLC’s holdings in Huntington Bancshares were worth $54,383,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total value of $623,318.40. Following the sale, the insider now directly owns 592,119 shares of the company’s stock, valued at approximately $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HBAN. Raymond James reiterated a “strong-buy” rating and set a $18.00 price objective (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Argus set a $17.00 target price on Huntington Bancshares in a research note on Friday, April 25th. Piper Sandler reduced their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.58.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.18 on Monday. The stock has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $15.97. The firm has a market capitalization 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 Incorporated has a fifty-two week low of $11.92 and a fifty-two 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.

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

Huntington Bancshares announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.83%. Huntington Bancshares’s payout ratio is 47.33%.

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.