HM Payson & Co. Decreases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

HM Payson & Co. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 42.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,315 shares of the bank’s stock after selling 2,468 shares during the period. HM Payson & Co.’s holdings in Huntington Bancshares were worth $49,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Asset Dedication LLC boosted its holdings in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new position in Huntington Bancshares during the third quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. boosted its holdings in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the 3rd quarter worth approximately $31,000. Finally, Fortitude Family Office LLC purchased a new stake in Huntington Bancshares during the 3rd quarter valued at $32,000. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HBAN. DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays increased their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” 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 research report on Friday, October 18th. Piper Sandler upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.48 on Friday. The stock has a 50-day moving average price of $14.90 and a 200 day moving average price of $14.07. The stock has a market capitalization of $22.49 billion, a P/E ratio of 14.88, a P/E/G ratio of 3.18 and a beta of 1.03. Huntington Bancshares Incorporated has a 12-month low of $9.75 and a 12-month high of $16.03. 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 announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm posted $0.36 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.2 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.01%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

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.