National Bank of Canada FI Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

National Bank of Canada FI decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 40.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,142,872 shares of the bank’s stock after selling 791,774 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of Huntington Bancshares worth $16,800,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Asset Dedication LLC increased its position in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth $29,000. Hazlett Burt & Watson Inc. increased its position in shares of Huntington Bancshares by 695.5% during 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 last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $32,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HBAN shares. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. Citigroup increased their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler raised their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Finally, 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.24.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,699 shares of company stock valued at $757,356. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Down 1.9 %

Huntington Bancshares stock opened at $17.28 on Tuesday. The company’s 50-day moving average price is $16.42 and its two-hundred day moving average price is $14.76. Huntington Bancshares Incorporated has a twelve month low of $11.77 and a twelve month high of $18.44. The stock has a market cap of $25.10 billion, a P/E ratio of 16.62, a P/E/G ratio of 3.51 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company 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 quarter in the previous year, the business earned $0.36 earnings per share. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.59%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Huntington Bancshares 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.