Oppenheimer & Co. Inc. Sells 94,616 Shares of Huntington Bancshares Incorporated $HBAN

Oppenheimer & Co. Inc. reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 79.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,157 shares of the bank’s stock after selling 94,616 shares during the period. Oppenheimer & Co. Inc.’s holdings in Huntington Bancshares were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of HBAN. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $26,000. South Plains Financial Inc. increased its position in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the period. Accredited Wealth Management LLC increased its position in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $31,000. Finally, AlphaCore Capital LLC bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $33,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.12 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $32.68 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.74 and a beta of 0.96. The business’s fifty day moving average is $16.17 and its two-hundred day moving average is $16.75. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the previous year, the firm earned $0.34 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares’s payout ratio is currently 47.69%.

Insider Buying and Selling

In other Huntington Bancshares news, Director James D. Rollins III acquired 8,471 shares of Huntington Bancshares stock in a transaction on Monday, April 27th. The shares were bought at an average price of $18.01 per share, with a total value of $152,562.71. Following the completion of the purchase, the director owned 11,500 shares in the company, valued at $207,115. This trade represents a 279.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares in the company, valued at $802,594.14. This trade represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have acquired 39,200 shares of company stock valued at $756,724 and have sold 93,156 shares valued at $1,489,372. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research report on Thursday, April 23rd. Raymond James Financial boosted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. The Goldman Sachs Group lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, UBS Group set a $21.00 price objective on Huntington Bancshares in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.