BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 13.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,772 shares of the bank’s stock after selling 37,032 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Huntington Bancshares were worth $3,554,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of HBAN. Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 1,522,767 shares in the last quarter. FMR LLC boosted its stake in shares of Huntington Bancshares by 16.8% in the 3rd 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. Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Huntington Bancshares by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after purchasing an additional 561,565 shares during the period. Finally, Citigroup Inc. lifted its stake in Huntington Bancshares by 1.9% in the third quarter. Citigroup Inc. now owns 9,084,856 shares of the bank’s stock worth $133,547,000 after purchasing an additional 168,186 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Down 0.8 %

Shares of NASDAQ:HBAN opened at $17.63 on Wednesday. The firm has a market capitalization of $25.61 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a 50 day moving average price of $16.12 and a 200-day moving average price of $14.64. Huntington Bancshares Incorporated has a 52-week low of $11.57 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Piper Sandler upped their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.76.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. Corporate insiders own 0.92% of the company’s stock.

About Huntington Bancshares

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.