Carnegie Investment Counsel Reduces Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Carnegie Investment Counsel decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 21.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 464,092 shares of the bank’s stock after selling 124,201 shares during the quarter. Carnegie Investment Counsel’s holdings in Huntington Bancshares were worth $7,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after buying an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after purchasing an additional 1,522,767 shares during the last quarter. Geode Capital Management LLC increased its position in Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares during the last quarter. FMR LLC increased its position in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $16.84 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a twelve month low of $12.02 and a twelve month high of $18.44. The stock has a 50 day moving average of $17.08 and a two-hundred day moving average of $15.42. The stock has a market cap of $24.47 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.51 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued 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. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Barclays boosted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Citigroup upped their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $17.76.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s 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 sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is owned by insiders.

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.