Graver Capital Management LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Graver Capital Management LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,534 shares of the bank’s stock, valued at approximately $285,000. Huntington Bancshares makes up about 0.3% of Graver Capital Management LLC’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Focus Partners Wealth grew its position in Huntington Bancshares by 4.5% in the 4th quarter. Focus Partners Wealth now owns 139,207 shares of the bank’s stock valued at $2,265,000 after purchasing an additional 5,956 shares during the period. First Manhattan CO. LLC. grew its holdings in shares of Huntington Bancshares by 7.2% during the fourth quarter. First Manhattan CO. LLC. now owns 77,359 shares of the bank’s stock valued at $1,271,000 after buying an additional 5,214 shares during the last quarter. Deutsche Bank AG increased its position in shares of Huntington Bancshares by 24.2% during the fourth quarter. Deutsche Bank AG now owns 6,004,666 shares of the bank’s stock worth $97,696,000 after acquiring an additional 1,170,081 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Huntington Bancshares in the 4th quarter worth about $428,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Huntington Bancshares by 126.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank’s stock valued at $114,684,000 after acquiring an additional 3,938,769 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HBAN. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. lowered their price target on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Robert W. Baird raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Argus set a $17.00 target price on shares of Huntington Bancshares in a report on Friday, April 25th. Finally, Piper Sandler cut their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.45.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Helga Houston sold 42,345 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider now owns 592,119 shares of the company’s stock, valued at $8,715,991.68. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,456 shares of company stock valued at $4,464,105 in the last 90 days. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.22 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market capitalization of $22.23 billion, a PE ratio of 12.37, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The business’s fifty day moving average price is $14.35 and its 200-day moving average price is $15.95.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.07%. Huntington Bancshares’s dividend payout ratio is 47.33%.

Huntington Bancshares announced that its Board of Directors has initiated a share buyback program on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.