Brandywine Global Investment Management LLC Sells 60,248 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Brandywine Global Investment Management LLC lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 763,848 shares of the bank’s stock after selling 60,248 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Huntington Bancshares were worth $12,428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Capital Management Investments LLC lifted its position in shares of Huntington Bancshares by 17,533.3% in the fourth 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 in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after acquiring an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the 4th quarter valued at approximately $37,000. Asset Dedication LLC grew its holdings in shares of Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Huntington Bancshares by 27.2% during the fourth 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 in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 1.5 %

Shares of NASDAQ:HBAN opened at $15.01 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $16.03 and its 200 day moving average is $16.16. The stock has a market cap of $21.93 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating 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 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.13%. Huntington Bancshares’s payout ratio is presently 50.41%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler dropped 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 note on Tuesday, January 21st. Truist Financial boosted their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Friday, March 7th. Keefe, Bruyette & Woods boosted their target price on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Citigroup dropped their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.18.

Huntington Bancshares Company 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.