Atlantic Union Bankshares Corp Decreases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Atlantic Union Bankshares Corp reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,265 shares of the bank’s stock after selling 1,934 shares during the period. Atlantic Union Bankshares Corp’s holdings in Huntington Bancshares were worth $476,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HBAN. Farther Finance Advisors LLC lifted its position in shares of Huntington Bancshares by 19.3% in the third quarter. Farther Finance Advisors LLC now owns 11,618 shares of the bank’s stock worth $171,000 after buying an additional 1,883 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Huntington Bancshares by 40.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after buying an additional 55,865 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Huntington Bancshares by 6.9% in the third quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank’s stock worth $25,627,000 after buying an additional 112,146 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Huntington Bancshares by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 78,535 shares of the bank’s stock valued at $1,154,000 after purchasing an additional 2,816 shares during the period. Finally, Assetmark Inc. raised its position in Huntington Bancshares by 24.0% during the third quarter. Assetmark Inc. now owns 128,396 shares of the bank’s stock valued at $1,887,000 after purchasing an additional 24,879 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $15.14 on Friday. The business has a fifty day moving average of $16.55 and a 200 day moving average of $16.11. The firm has a market capitalization of $22.01 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the company posted $0.27 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.10%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analyst Ratings Changes

HBAN has been the topic of a number of recent research reports. Barclays upped their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Truist Financial increased their target price on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Stephens reaffirmed an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. Finally, Citigroup increased their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $18.24.

About Huntington Bancshares

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.