Orion Portfolio Solutions LLC decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 12.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,851 shares of the bank's stock after selling 1,904 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Huntington Bancshares were worth $155,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in HBAN. Rockefeller Capital Management L.P. lifted its holdings in Huntington Bancshares by 2.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 64,089 shares of the bank's stock worth $988,000 after purchasing an additional 1,815 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Huntington Bancshares by 3.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,233,662 shares of the bank's stock valued at $96,124,000 after acquiring an additional 191,645 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Huntington Bancshares by 13.6% in the 4th quarter. LPL Financial LLC now owns 1,413,552 shares of the bank's stock valued at $21,797,000 after acquiring an additional 168,897 shares in the last quarter. Credit Suisse AG raised its holdings in shares of Huntington Bancshares by 22.3% in the 4th quarter. Credit Suisse AG now owns 2,682,416 shares of the bank's stock valued at $41,363,000 after acquiring an additional 488,793 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Huntington Bancshares by 3.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,903,880 shares of the bank's stock valued at $29,358,000 after acquiring an additional 60,508 shares in the last quarter. Institutional investors own 79.77% of the company's stock.
Get Huntington Bancshares alerts:Huntington Bancshares Price Performance
HBAN opened at $12.86 on Wednesday. The firm has a market cap of $18.55 billion, a price-to-earnings ratio of 11.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.81. The stock's 50 day simple moving average is $13.62 and its 200 day simple moving average is $13.50. Huntington Bancshares Incorporated has a 1 year low of $11.67 and a 1 year high of $17.79.
Huntington Bancshares (NASDAQ:HBAN – Get Rating) last announced its earnings results on Thursday, July 21st. The bank reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.70 billion. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same quarter in the previous year, the company earned $0.35 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.46 earnings per share for the current year.Huntington Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Friday, September 16th. Huntington Bancshares's payout ratio is 55.36%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Piper Sandler cut 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. Deutsche Bank Aktiengesellschaft lowered their price target on Huntington Bancshares from $16.50 to $15.50 and set a "hold" rating on the stock in a report on Monday, September 12th. Argus raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a report on Thursday, July 28th. Raymond James decreased their price objective on Huntington Bancshares from $18.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 7th. Finally, The Goldman Sachs Group decreased their price objective on Huntington Bancshares from $17.50 to $14.50 and set a "buy" rating on the stock in a report on Tuesday, May 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $15.13.
Insider Buying and Selling at Huntington Bancshares
In other news, Director Gary Torgow bought 19,382 shares of the business's stock in a transaction on Wednesday, July 27th. The shares were bought at an average price of $12.90 per share, with a total value of $250,027.80. Following the completion of the transaction, the director now directly owns 893,301 shares in the company, valued at $11,523,582.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 sale, the chief financial officer now owns 230,394 shares of the company's stock, valued at $3,308,457.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Torgow acquired 19,382 shares of the business's stock in a transaction dated Wednesday, July 27th. The shares were bought at an average cost of $12.90 per share, for a total transaction of $250,027.80. Following the transaction, the director now directly owns 893,301 shares of the company's stock, valued at approximately $11,523,582.90. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.
Huntington Bancshares Company 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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