Pettee Investors Inc. Sells 1,600 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pettee Investors Inc. decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,427 shares of the bank’s stock after selling 1,600 shares during the period. Pettee Investors Inc.’s holdings in Huntington Bancshares were worth $397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arvest Bank Trust Division bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $2,381,000. Mediolanum International Funds Ltd bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at $422,000. Donoghue Forlines LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Huntington Bancshares by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after buying an additional 44,662 shares in the last quarter. Finally, Petiole USA ltd bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $3,454,000. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Citigroup upped their price objective 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. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.24.

Huntington Bancshares Trading Up 0.1 %

Shares of NASDAQ:HBAN opened at $15.14 on Friday. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44. The company has a market capitalization of $22.01 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a 50-day simple moving average of $16.55 and a 200 day simple moving average of $16.11. 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:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the company posted $0.27 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.10%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.