Neuberger Berman Group LLC lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 2.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,095,785 shares of the bank’s stock after selling 82,446 shares during the quarter. Neuberger Berman Group LLC’s holdings in Huntington Bancshares were worth $59,919,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in HBAN. Norges Bank acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $213,579,000. Invesco Ltd. boosted its holdings in shares of Huntington Bancshares by 25.7% in the first quarter. Invesco Ltd. now owns 38,854,627 shares of the bank’s stock valued at $568,053,000 after acquiring an additional 7,947,366 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Huntington Bancshares by 6.0% in the first quarter. BlackRock Inc. now owns 136,897,261 shares of the bank’s stock valued at $2,001,438,000 after acquiring an additional 7,774,643 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Huntington Bancshares in the first quarter valued at approximately $47,578,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Huntington Bancshares by 20.7% in the first quarter. Federated Hermes Inc. now owns 18,352,191 shares of the bank’s stock valued at $268,309,000 after acquiring an additional 3,149,952 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on HBAN. Keefe, Bruyette & Woods cut shares of Huntington Bancshares from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $17.00 to $15.00 in a report on Thursday, June 2nd. The Goldman Sachs Group decreased their price objective on shares of Huntington Bancshares from $17.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, May 31st. Morgan Stanley reduced their target price on shares of Huntington Bancshares from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, July 12th. Piper Sandler cut shares of Huntington Bancshares from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $13.50 in a report on Friday, July 8th. Finally, Wedbush cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $14.00 target price for the company. in a report on Thursday, June 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares has an average rating of “Hold” and an average target price of $15.13.
Huntington Bancshares Price Performance
Huntington Bancshares (NASDAQ:HBAN – Get Rating) last announced its earnings results on Thursday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a net margin of 25.58% and a return on equity of 13.11%. During the same quarter in the prior year, the company posted $0.35 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.46 earnings per share for the current fiscal year.
Huntington Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Friday, September 16th. Huntington Bancshares’s dividend payout ratio is currently 55.36%.
In other news, CFO Zachary Jacob Wasserman sold 11,618 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.36, for a total transaction of $166,834.48. Following the transaction, the chief financial officer now directly owns 230,394 shares in the company, valued at approximately $3,308,457.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Huntington Bancshares news, Director Gary Torgow acquired 19,382 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was purchased at an average cost of $12.90 per share, for a total transaction of $250,027.80. Following the completion of the acquisition, the director now owns 893,301 shares of the company’s stock, valued at approximately $11,523,582.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 11,618 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total transaction of $166,834.48. Following the completion of the sale, the chief financial officer now owns 230,394 shares of the company’s stock, valued at $3,308,457.84. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.
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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
- Get a free copy of the StockNews.com research report on Huntington Bancshares (HBAN)
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