Zions Bancorporation National Association UT Decreases Stock Position in Huntington Bancshares Incorporated $HBAN

Zions Bancorporation National Association UT reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 36.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 202,412 shares of the bank’s stock after selling 113,817 shares during the period. Zions Bancorporation National Association UT’s holdings in Huntington Bancshares were worth $3,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. Boston Partners raised its stake in Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares during the last quarter. Invesco Ltd. raised its stake in Huntington Bancshares by 1.5% during the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after buying an additional 861,263 shares during the last quarter. Geode Capital Management LLC raised its stake in Huntington Bancshares by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 43,171,993 shares of the bank’s stock valued at $746,257,000 after buying an additional 3,074,673 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Huntington Bancshares by 15.7% during the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after buying an additional 4,640,302 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on HBAN. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, April 23rd. Royal Bank Of Canada decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, DA Davidson decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Huntington Bancshares Trading Up 0.1%

Shares of HBAN stock opened at $16.84 on Thursday. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The firm has a fifty day moving average price of $16.23 and a 200-day moving average price of $16.82. 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 has a market cap of $34.14 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.76 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.34 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insiders Place Their Bets

In other news, Director James D. Rollins III bought 11,127 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $16.50 per share, with a total value of $183,595.50. Following the acquisition, the director owned 11,127 shares of the company’s stock, valued at approximately $183,595.50. This represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 33,500 shares of company stock valued at $617,542. Corporate insiders own 0.67% of the company’s stock.

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.