Kentucky Retirement Systems Insurance Trust Fund Has $630,000 Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) by 42.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,980 shares of the bank’s stock after buying an additional 12,569 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Huntington Bancshares were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Transce3nd LLC acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth approximately $48,000. Venturi Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares in the last quarter. Curat Global LLC acquired a new stake in shares of Huntington Bancshares during the first quarter worth approximately $52,000. Loomis Sayles & Co. L P acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth approximately $70,000. Finally, IFP Advisors Inc increased its holdings in shares of Huntington Bancshares by 120.6% during the fourth quarter. IFP Advisors Inc now owns 4,503 shares of the bank’s stock worth $73,000 after buying an additional 2,462 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Cowen assumed coverage on shares of Huntington Bancshares in a report on Wednesday, May 14th. They issued a “buy” rating for the company. Finally, Truist Financial raised their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.08.

Check Out Our Latest Research Report on HBAN

Insider Transactions at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 70,417 shares of the business’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, the vice president now directly owns 326,456 shares of the company’s stock, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 25,419 shares of the business’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total transaction of $347,731.92. Following the completion of the sale, the insider now directly owns 70,281 shares in the company, valued at $961,444.08. This represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,096 shares of company stock valued at $3,060,286 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Trading Up 1.2%

Shares of NASDAQ HBAN opened at $16.26 on Wednesday. The company’s fifty day moving average is $15.33 and its 200-day moving average is $15.67. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.23 and a beta of 0.92. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. During the same period last year, the firm posted $0.27 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.81%. Huntington Bancshares’s dividend payout ratio is 47.33%.

Huntington Bancshares announced that its board has approved a stock repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Huntington Bancshares Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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