First Hawaiian Bank Sells 2,628 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

First Hawaiian Bank lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,262 shares of the bank’s stock after selling 2,628 shares during the period. First Hawaiian Bank’s holdings in Huntington Bancshares were worth $541,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of HBAN. State Street Corp increased its position in shares of Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the period. FMR LLC increased its position in shares of Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the period. Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the period. Point72 Asset Management L.P. increased its position in shares of Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after purchasing an additional 2,116,839 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after purchasing an additional 1,522,767 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 over the last quarter. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.02 on Friday. The stock’s 50 day moving average is $17.04 and its 200 day moving average is $15.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $23.27 billion, a P/E ratio of 15.40, a P/E/G ratio of 3.42 and a beta of 1.07. Huntington Bancshares Incorporated has a one year low of $12.02 and a one year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the firm earned $0.36 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.87%. Huntington Bancshares’s dividend payout ratio is 59.62%.

Analysts Set New Price Targets

Several analysts recently weighed in on HBAN shares. Citigroup raised their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays raised their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Truist Financial started coverage on Huntington Bancshares in a research note on Tuesday. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.76.

Huntington Bancshares 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.