Envestnet Portfolio Solutions Inc. Reduces Stake in Huntington Bancshares Incorporated $HBAN

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 35.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 87,031 shares of the bank’s stock after selling 48,580 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Huntington Bancshares were worth $1,510,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HBAN. Vanguard Group Inc. lifted its holdings in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares in the last quarter. Junto Capital Management LP purchased a new stake in Huntington Bancshares during the 3rd quarter worth about $85,690,000. Victory Capital Management Inc. increased its stake in Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after acquiring an additional 4,640,302 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new position in Huntington Bancshares in the 4th quarter worth about $73,333,000. Finally, Squarepoint Ops LLC increased its stake in Huntington Bancshares by 48.0% in the 3rd quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank’s stock worth $167,119,000 after acquiring an additional 3,138,669 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III purchased 8,471 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the completion of the purchase, the director directly owned 11,500 shares of the company’s stock, valued at $207,115. This trade represents a 279.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares of the company’s stock, valued at $7,360,009.28. This represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 25,000 shares of company stock worth $503,822. 0.67% of the stock is owned by insiders.

Huntington Bancshares Trading Up 0.4%

NASDAQ HBAN opened at $15.92 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a 50 day simple moving average of $15.97 and a two-hundred day simple moving average of $16.74. The stock has a market cap of $32.27 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 0.73 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter last year, the business posted $0.34 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares’s payout ratio is presently 47.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Argus upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. DA Davidson decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, Truist Financial decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $20.05.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.