Newport Trust Company LLC Decreases Position in Huntington Bancshares Incorporated $HBAN

Newport Trust Company LLC lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,458,036 shares of the bank’s stock after selling 173,224 shares during the quarter. Newport Trust Company LLC’s holdings in Huntington Bancshares were worth $181,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares during the period. Boston Partners increased its position in shares of Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares during the period. Invesco Ltd. increased its position in shares of Huntington Bancshares by 1.5% in the third quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after acquiring an additional 861,263 shares during the period. Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after acquiring an additional 4,640,302 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Huntington Bancshares by 4.7% in the third quarter. Federated Hermes Inc. now owns 21,292,946 shares of the bank’s stock valued at $367,729,000 after acquiring an additional 956,933 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HBAN shares. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Raymond James Financial boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.05.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the transaction, the vice president owned 481,676 shares in the company, valued at approximately $7,360,009.28. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James D. Rollins III bought 8,471 shares of the company’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 purchase, the director owned 11,500 shares of the company’s stock, valued at approximately $207,115. This represents a 279.66% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 25,000 shares of company stock worth $503,822. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Trading Up 0.2%

NASDAQ:HBAN opened at $15.85 on Friday. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The company’s 50-day simple moving average is $15.96 and its 200 day simple moving average is $16.75. The firm has a market capitalization of $32.13 billion, a P/E ratio of 12.19, a PEG ratio of 0.73 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Huntington Bancshares Company Profile

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.