Tidal Investments LLC Sells 12,701 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Tidal Investments LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,914 shares of the bank’s stock after selling 12,701 shares during the quarter. Tidal Investments LLC’s holdings in Huntington Bancshares were worth $1,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arvest Bank Trust Division bought a new stake in shares of Huntington Bancshares during the third quarter worth $2,381,000. Heritage Wealth Management Inc. bought a new stake in shares of Huntington Bancshares during the second quarter worth $744,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after buying an additional 44,662 shares during the last quarter. Petiole USA ltd acquired a new position in shares of Huntington Bancshares during the third quarter worth $3,454,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Huntington Bancshares by 40.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after purchasing an additional 55,865 shares during the period. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.41.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.94 on Wednesday. The stock has a market capitalization of $24.61 billion, a P/E ratio of 16.29, a PEG ratio of 3.47 and a beta of 1.06. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $16.75 and its 200 day moving average is $14.91. Huntington Bancshares Incorporated has a 12 month low of $12.02 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $0.36 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.66%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

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.