Fourpath Capital Management LLC Lowers Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fourpath Capital Management LLC cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 18.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,285 shares of the bank’s stock after selling 9,454 shares during the quarter. Fourpath Capital Management LLC’s holdings in Huntington Bancshares were worth $672,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its holdings in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Huntington Bancshares by 2.5% in the 3rd 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after buying an additional 473,893 shares during the last quarter. FMR LLC increased its position in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after buying an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after buying an additional 2,363,988 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Trading Down 2.1 %

Shares of Huntington Bancshares stock opened at $16.84 on Tuesday. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.44. The company’s fifty day simple moving average is $16.93 and its 200-day simple moving average is $15.76. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market capitalization of $24.47 billion, a PE ratio of 13.69, a P/E/G ratio of 1.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating 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 firm earned $0.27 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is 50.41%.

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays lifted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens reissued an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $18.06.

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.