Squarepoint Ops LLC Sells 5,131,329 Shares of Huntington Bancshares Incorporated $HBAN

Squarepoint Ops LLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 53.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,545,500 shares of the bank’s stock after selling 5,131,329 shares during the quarter. Squarepoint Ops LLC owned about 0.29% of Huntington Bancshares worth $78,864,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in Huntington Bancshares by 24.5% during the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after purchasing an additional 104,965 shares during the period. Vanguard Group Inc. boosted its position in Huntington Bancshares by 0.4% during the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after purchasing an additional 680,601 shares during the period. JPMorgan Chase & Co. boosted its position in Huntington Bancshares by 3.5% during the third quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock worth $159,543,000 after purchasing an additional 314,544 shares during the period. Fieldview Capital Management LLC boosted its position in Huntington Bancshares by 15.9% during the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock worth $8,270,000 after purchasing an additional 65,828 shares during the period. Finally, KBC Group NV boosted its position in Huntington Bancshares by 16.3% during the fourth quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after purchasing an additional 395,489 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 1.8%

Shares of HBAN stock opened at $17.21 on Tuesday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The firm has a market cap of $34.89 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The stock has a 50 day moving average of $16.32 and a 200-day moving average of $16.85. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion during 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 period in the prior year, the company posted $0.34 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a report on Thursday, April 23rd. The Goldman Sachs Group cut their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Morgan Stanley cut their price target on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III bought 11,127 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $16.50 per share, for a total transaction of $183,595.50. Following the completion of the purchase, the director owned 11,127 shares of the company’s stock, valued at $183,595.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired 33,500 shares of company stock valued at $617,542 in the last three months. Corporate insiders own 0.67% of the company’s stock.

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.