Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Bell Bank

Bell Bank raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 597,553 shares of the bank’s stock after purchasing an additional 39,083 shares during the quarter. Bell Bank’s holdings in Huntington Bancshares were worth $8,969,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HBAN. National Bank of Canada FI grew its position in shares of Huntington Bancshares by 220.9% during the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock worth $59,661,000 after buying an additional 2,524,077 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock worth $13,832,000 after acquiring an additional 129,106 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter worth about $189,000. IFP Advisors Inc raised its stake in shares of Huntington Bancshares by 120.6% in the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,462 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Huntington Bancshares by 14.6% during the fourth quarter. Global Retirement Partners LLC now owns 11,069 shares of the bank’s stock worth $180,000 after purchasing an additional 1,407 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.70 on Tuesday. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The firm has a market capitalization of $22.93 billion, a PE ratio of 12.76, a P/E/G ratio of 1.33 and a beta of 0.92. The firm has a 50-day moving average price of $15.02 and a 200 day moving average price of $15.73. 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 earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $0.27 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s payout ratio is 47.33%.

Huntington Bancshares declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of research analyst reports. Truist Financial increased their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Raymond James reiterated a “strong-buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. Finally, Citigroup reduced their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.08.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, the executive vice president now directly owns 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kendall A. Kowalski sold 3,434 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $14.50, for a total value of $49,793.00. Following the completion of the sale, the insider now directly owns 66,847 shares of the company’s stock, valued at approximately $969,281.50. This trade represents a 4.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,617 shares of company stock valued at $3,113,982 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.