Neuberger Berman Group LLC Lowers Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

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Neuberger Berman Group LLC lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,095,785 shares of the bank’s stock after selling 82,446 shares during the quarter. Neuberger Berman Group LLC owned 0.28% of Huntington Bancshares worth $59,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Core Alternative Capital purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $27,000. Riverview Trust Co purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $27,000. Selective Wealth Management Inc. boosted its stake in shares of Huntington Bancshares by 110.0% during the 1st quarter. Selective Wealth Management Inc. now owns 2,100 shares of the bank’s stock worth $31,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Rockbridge Investment Management LCC boosted its stake in shares of Huntington Bancshares by 2,000.0% during the 4th quarter. Rockbridge Investment Management LCC now owns 2,100 shares of the bank’s stock worth $32,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Huntington Bancshares Stock Down 3.9 %

Shares of NASDAQ HBAN opened at $13.71 on Monday. Huntington Bancshares Incorporated has a 52-week low of $11.67 and a 52-week high of $17.79. The firm has a fifty day moving average of $13.48 and a 200-day moving average of $13.54. The stock has a market capitalization of $19.77 billion, a PE ratio of 12.24 and a beta of 1.18. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.50.

Huntington Bancshares (NASDAQ:HBANGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a net margin of 25.58% and a return on equity of 13.11%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.46 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, September 16th. This represents a $0.62 dividend on an annualized basis and a yield of 4.52%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HBAN. Morgan Stanley decreased their price target on Huntington Bancshares from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Wedbush downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research report on Thursday, June 30th. JPMorgan Chase & Co. downgraded Huntington Bancshares from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $17.50 to $14.50 in a research report on Friday, July 1st. Piper Sandler downgraded Huntington Bancshares from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $14.00 to $13.50 in a research report on Friday, July 8th. Finally, Argus upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.13.

Insider Buying and Selling

In other Huntington Bancshares news, Director Gary Torgow purchased 19,382 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was purchased at an average cost of $12.90 per share, with a total value of $250,027.80. Following the transaction, the director now owns 893,301 shares in the company, valued at $11,523,582.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Huntington Bancshares news, Director Gary Torgow purchased 19,382 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was purchased at an average cost of $12.90 per share, with a total value of $250,027.80. Following the transaction, the director now owns 893,301 shares in the company, valued at $11,523,582.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 11,618 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total transaction of $166,834.48. Following the sale, the chief financial officer now directly owns 230,394 shares of the company’s stock, valued at $3,308,457.84. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Huntington Bancshares Company Profile

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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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