USA Financial Formulas Reduces Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

USA Financial Formulas lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.7% during the 4th quarter, Holdings Channel reports. The firm owned 14,353 shares of the bank’s stock after selling 2,091 shares during the quarter. USA Financial Formulas’ holdings in Huntington Bancshares were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Asset Dedication LLC boosted its holdings in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. boosted its holdings in shares of Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after acquiring an additional 728 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 over the last 90 days. 0.92% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. DA Davidson upped their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays upped their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Citigroup raised their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Piper Sandler raised their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $17.76.

Huntington Bancshares Trading Down 1.2 %

Shares of HBAN stock opened at $16.84 on Friday. 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 market capitalization of $24.47 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The company has a 50 day moving average price of $17.08 and a 200 day moving average price of $15.42. Huntington Bancshares Incorporated has a fifty-two week low of $12.02 and a fifty-two week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.

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.