Huntington Bancshares Incorporated (NASDAQ:HBAN) Position Lowered by Windsor Advisory Group LLC

Windsor Advisory Group LLC trimmed its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 43.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,868 shares of the bank’s stock after selling 79,389 shares during the quarter. Huntington Bancshares makes up 1.9% of Windsor Advisory Group LLC’s investment portfolio, making the stock its 10th largest position. Windsor Advisory Group LLC’s holdings in Huntington Bancshares were worth $1,657,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Creative Capital Management Investments LLC raised its stake in 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 valued at $26,000 after buying an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd increased its holdings 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 acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at about $37,000. Transce3nd LLC acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth about $48,000. Finally, Asset Dedication LLC lifted its stake in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on HBAN. JPMorgan Chase & Co. dropped their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Truist Financial dropped their target price on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley reduced their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods decreased their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Finally, Cowen began coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.58.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.12 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The firm’s fifty day moving average price is $14.49 and its 200 day moving average price is $15.98. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced 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 3.85%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s payout ratio is 47.33%.

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

Insider Transactions at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 25,419 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total transaction of $347,731.92. Following the transaction, the insider now directly owns 70,281 shares of the company’s stock, valued at $961,444.08. This represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm’s stock in a transaction dated 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 owns 335,538 shares of the company’s stock, 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. In the last three months, insiders sold 312,456 shares of company stock valued at $4,464,105. Corporate insiders own 0.89% of the company’s stock.

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.