Manning & Napier Advisors LLC Sells 46,899 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Manning & Napier Advisors LLC lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 550,173 shares of the bank’s stock after selling 46,899 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Huntington Bancshares were worth $8,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in HBAN. Asset Dedication LLC increased its position in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new stake in Huntington Bancshares in the 3rd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at about $31,000. Fortitude Family Office LLC purchased a new stake in Huntington Bancshares during the third quarter valued at about $32,000. Finally, Decker Retirement Planning Inc. bought a new position in Huntington Bancshares during the fourth quarter worth about $73,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Citigroup increased their target price on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Piper Sandler cut their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $18.06.

Read Our Latest Report on HBAN

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $17.17 on Thursday. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The firm’s fifty day moving average price is $16.98 and its 200-day moving average price is $15.69. The stock has a market cap of $24.94 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company earned $0.27 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s payout ratio is currently 50.41%.

About Huntington Bancshares

(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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