California Public Employees Retirement System Has $39.23 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

California Public Employees Retirement System lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,411,266 shares of the bank’s stock after selling 117,810 shares during the quarter. California Public Employees Retirement System’s holdings in Huntington Bancshares were worth $39,231,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. D.A. Davidson & CO. raised its position in Huntington Bancshares by 28.3% in the 3rd quarter. D.A. Davidson & CO. now owns 22,924 shares of the bank’s stock valued at $337,000 after buying an additional 5,058 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Huntington Bancshares by 37.8% in the third quarter. Townsquare Capital LLC now owns 46,134 shares of the bank’s stock valued at $678,000 after purchasing an additional 12,660 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Huntington Bancshares by 11.4% in the third quarter. Rockefeller Capital Management L.P. now owns 129,285 shares of the bank’s stock valued at $1,900,000 after purchasing an additional 13,193 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Huntington Bancshares by 1,840.2% during the third quarter. Benjamin Edwards Inc. now owns 67,693 shares of the bank’s stock worth $995,000 after purchasing an additional 64,204 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its position in Huntington Bancshares by 4.3% in the third quarter. Hilltop Holdings Inc. now owns 39,257 shares of the bank’s stock valued at $577,000 after purchasing an additional 1,619 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HBAN. Stephens reissued an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a research report on Friday, February 7th. Morgan Stanley dropped their target price on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods increased their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $18.18.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now owns 47,950 shares in the company, valued at $731,237.50. This represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,781 shares of company stock worth $1,631,151. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 1.7 %

Huntington Bancshares stock opened at $15.21 on Thursday. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.45. The stock has a market cap of $22.22 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.33 and a beta of 1.07. The company’s 50-day moving average price is $15.95 and its two-hundred day moving average price is $16.16. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.08%. Huntington Bancshares’s payout ratio is presently 50.41%.

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.