Retirement Systems of Alabama Reduces Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Retirement Systems of Alabama lowered its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,007 shares of the bank’s stock after selling 4,686 shares during the quarter. Retirement Systems of Alabama’s holdings in Huntington Bancshares were worth $4,631,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Arvest Bank Trust Division purchased a new stake in Huntington Bancshares during the third quarter valued at approximately $2,381,000. Heritage Wealth Management Inc. bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $744,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $12,414,000 after purchasing an additional 44,662 shares in the last quarter. Petiole USA ltd bought a new position in Huntington Bancshares in the 3rd quarter worth $3,454,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in 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 valued at $2,837,000 after purchasing an additional 55,865 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.91 on Friday. The stock has a market capitalization of $23.11 billion, a PE ratio of 15.30, a P/E/G ratio of 3.47 and a beta of 1.06. The company’s fifty day moving average is $16.78 and its 200 day moving average is $14.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares Incorporated has a fifty-two week low of $12.02 and a fifty-two week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping 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 firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $0.36 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Analysts Set New Price Targets

HBAN has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Thursday, December 12th. The Goldman Sachs Group raised their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods lifted 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. DA Davidson increased their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $17.41.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by company insiders.

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.