Elo Mutual Pension Insurance Co Sells 9,011 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Elo Mutual Pension Insurance Co lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,295 shares of the bank’s stock after selling 9,011 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Huntington Bancshares were worth $2,315,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Creative Capital Management Investments LLC lifted its holdings in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after buying an additional 1,578 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in Huntington Bancshares in the fourth quarter worth about $37,000. Asset Dedication LLC grew its holdings in Huntington Bancshares by 70.0% during the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after purchasing an additional 702 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 2.2 %

HBAN stock opened at $14.79 on Friday. The company has a market capitalization of $21.60 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.45. The firm’s fifty day simple moving average is $16.07 and its 200-day simple moving average is $16.14. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 in the prior year, the company posted $0.27 EPS. As a group, equities research 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. This represents a $0.62 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s payout ratio is presently 50.41%.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,781 shares of company stock worth $1,631,151. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Citigroup reduced their price target on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Piper Sandler dropped their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley reduced their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $18.18.

Huntington Bancshares Profile

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.