Burney Co. Sells 28,725 Shares of Huntington Bancshares Incorporated $HBAN

Burney Co. cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,235 shares of the bank’s stock after selling 28,725 shares during the period. Burney Co.’s holdings in Huntington Bancshares were worth $1,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares during the period. Norges Bank bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $432,584,000. Vanguard Group Inc. increased its holdings in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. Junto Capital Management LP bought a new stake in Huntington Bancshares in the 3rd quarter valued at $85,690,000. Finally, Marshall Wace LLP lifted its holdings in Huntington Bancshares by 2,458.7% during the 4th quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank’s stock valued at $78,354,000 after purchasing an additional 4,339,571 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders purchased 33,500 shares of company stock worth $617,542 over the last ninety days. 0.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HBAN. Truist Financial dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. DA Davidson lowered their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Jefferies Financial Group cut Huntington Bancshares from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $21.00 to $19.00 in a report on Monday. UBS Group increased their target price on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Huntington Bancshares Trading Up 0.7%

HBAN opened at $18.01 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The stock has a market capitalization of $36.51 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 0.81 and a beta of 0.93. The company has a 50-day simple moving average of $16.65 and a 200 day simple moving average of $16.90.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the prior year, the firm posted $0.34 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.