Maryland State Retirement & Pension System Trims Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Maryland State Retirement & Pension System lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,085 shares of the bank’s stock after selling 5,335 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Huntington Bancshares were worth $1,254,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Huntington Bancshares by 10.3% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares in the last quarter. FMR LLC grew its holdings in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock worth $355,094,000 after purchasing an additional 1,506,606 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent analyst reports. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group upped their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Piper Sandler cut their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods upped their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.35.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $15.02 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market cap of $21.94 billion, a PE ratio of 12.21, a P/E/G ratio of 1.33 and a beta of 1.07. The business has a 50 day moving average of $16.23 and a 200 day moving average of $16.12. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.13%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

Huntington Bancshares Company 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.