KBC Group NV Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

KBC Group NV lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 40.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,825,288 shares of the bank’s stock after selling 1,934,411 shares during the period. KBC Group NV owned approximately 0.19% of Huntington Bancshares worth $41,532,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Asset Dedication LLC grew its holdings in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS acquired a new position in shares of Huntington Bancshares in the third quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares during the third quarter valued at approximately $31,000. Fortitude Family Office LLC acquired a new stake in Huntington Bancshares during the third quarter worth approximately $32,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Down 0.1 %

Shares of NASDAQ:HBAN opened at $17.53 on Friday. The firm has a market cap of $25.47 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 3.55 and a beta of 1.03. The company has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $14.30. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $17.97.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal 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 issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research reports. DA Davidson increased their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. Bank of America raised their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Argus boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Piper Sandler raised their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $16.09.

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.