Teachers Retirement System of The State of Kentucky Lowers Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Teachers Retirement System of The State of Kentucky cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,852 shares of the bank’s stock after selling 3,452 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Huntington Bancshares were worth $1,514,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Boston Partners boosted its holdings in shares of Huntington Bancshares by 20.4% in the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. grew its position in Huntington Bancshares by 0.4% during the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after acquiring an additional 65,355 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after acquiring an additional 561,565 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after acquiring an additional 1,838,019 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Huntington Bancshares by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock valued at $85,940,000 after purchasing an additional 566,015 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the transaction, the insider now owns 618,832 shares in the company, valued at $9,294,856.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 11,288 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.02, for a total value of $169,545.76. Following the completion of the sale, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,622 shares of company stock valued at $1,762,904. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Piper Sandler raised their price target on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 22nd. Evercore ISI decreased their price target on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup increased their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley upped their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $15.71.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.62 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The company’s fifty day moving average price is $14.33 and its 200-day moving average price is $13.80. The stock has a market cap of $21.19 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 3.07 and a beta of 1.04. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the firm earned $0.35 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.24%. The ex-dividend date was Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

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.