Citigroup Inc. Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Citigroup Inc. increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,084,856 shares of the bank’s stock after purchasing an additional 168,186 shares during the quarter. Citigroup Inc. owned 0.63% of Huntington Bancshares worth $133,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Asset Dedication LLC boosted its stake in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares during the third quarter valued at about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth about $31,000. Fortitude Family Office LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays increased their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Morgan Stanley raised their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Piper Sandler lifted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Baird R W lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.26.

Huntington Bancshares Trading Up 1.5 %

Shares of HBAN stock opened at $17.89 on Friday. The company has a market capitalization of $25.99 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $15.72 and its two-hundred day moving average is $14.46. Huntington Bancshares Incorporated has a twelve month low of $10.73 and a twelve month high of $17.98.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the firm posted $0.36 EPS. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.47%. Huntington Bancshares’s payout ratio is currently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated 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 in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is 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 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.