Stonehearth Capital Management LLC Has $298,000 Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Stonehearth Capital Management LLC reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,335 shares of the bank’s stock after selling 2,265 shares during the quarter. Stonehearth Capital Management LLC’s holdings in Huntington Bancshares were worth $298,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Huntington Bancshares by 2.5% in the third 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 boosted 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 during the period. FMR LLC grew its position in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Huntington Bancshares by 13.2% in the 3rd 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 period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The shares were 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 in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The shares were 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 in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,699 shares of company stock valued at $757,356. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN traded up $0.02 during trading hours on Tuesday, hitting $16.55. 6,086,907 shares of the company’s stock were exchanged, compared to its average volume of 13,840,375. The company’s 50-day moving average price is $16.99 and its 200-day moving average price is $15.26. Huntington Bancshares Incorporated has a 1-year low of $12.02 and a 1-year high of $18.44. The stock has a market capitalization of $24.04 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 3.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the prior year, the business earned $0.36 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.75%. Huntington Bancshares’s payout ratio is 59.62%.

Analysts Set New Price Targets

HBAN has been the subject of a number of research reports. Evercore ISI lifted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial began coverage on Huntington Bancshares in a research note on Tuesday. They issued a “buy” rating and a $19.00 target price on the stock. Keefe, Bruyette & Woods raised their price target 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. DA Davidson boosted their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group increased their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $17.76.

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.