Teachers Retirement System of The State of Kentucky Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,310 shares of the bank’s stock after selling 4,540 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Huntington Bancshares were worth $1,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Core Alternative Capital purchased a new stake in Huntington Bancshares during the first quarter worth about $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth approximately $27,000. Riverview Trust Co purchased a new stake in shares of Huntington Bancshares during the first quarter worth approximately $27,000. Rockbridge Investment Management LCC increased its stake in shares of Huntington Bancshares by 2,000.0% during the fourth quarter. Rockbridge Investment Management LCC now owns 2,100 shares of the bank’s stock worth $32,000 after buying an additional 2,000 shares during the period. Finally, Selective Wealth Management Inc. increased its stake in shares of Huntington Bancshares by 110.0% during the first quarter. Selective Wealth Management Inc. now owns 2,100 shares of the bank’s stock worth $31,000 after buying an additional 1,100 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Huntington Bancshares from $16.50 to $15.50 and set a “hold” rating on the stock in a research note on Monday, September 12th. JPMorgan Chase & Co. lowered shares of Huntington Bancshares from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $17.50 to $14.50 in a research note on Friday, July 1st. Morgan Stanley cut their target price on shares of Huntington Bancshares from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Piper Sandler downgraded Huntington Bancshares from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $13.50 in a report on Friday, July 8th. Finally, Wedbush downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $14.00 price target for the company. in a report on Thursday, June 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Hold” and an average price target of $15.13.

Huntington Bancshares Price Performance

HBAN stock opened at $13.72 on Thursday. The company has a market capitalization of $19.79 billion, a P/E ratio of 12.25 and a beta of 1.18. Huntington Bancshares Incorporated has a twelve month low of $11.67 and a twelve month high of $17.79. The business has a 50 day simple moving average of $13.58 and a 200-day simple moving average of $13.54. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Huntington Bancshares (NASDAQ:HBANGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The bank reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.46 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors 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 presently 55.36%.

Insider Buying and Selling

In related news, Director Gary Torgow purchased 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, with a total value of $250,027.80. Following the completion of the acquisition, the director now directly owns 893,301 shares in the company, valued at $11,523,582.90. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Zachary Jacob Wasserman sold 11,618 shares of the 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 directly owns 230,394 shares of the company’s stock, valued at $3,308,457.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary Torgow purchased 19,382 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were bought at an average cost of $12.90 per share, with a total value of $250,027.80. Following the completion of the acquisition, the director now owns 893,301 shares of the company’s stock, valued at $11,523,582.90. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Huntington Bancshares Profile

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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).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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