CenterBook Partners LP Buys 105,771 Shares of Huntington Bancshares Incorporated $HBAN

CenterBook Partners LP purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, HoldingsChannel reports. The firm purchased 105,771 shares of the bank’s stock, valued at approximately $1,614,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HBAN. Corient Private Wealth LP acquired a new stake in shares of Huntington Bancshares in the second quarter valued at approximately $21,187,000. Equitable Holdings Inc. purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $1,093,000. Bank of America Corp DE purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $256,772,000. Community Trust & Investment Co. acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $3,131,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $16,579,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, SVP Donnell R. White sold 3,000 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $15.87, for a total transaction of $47,610.00. Following the transaction, the senior vice president owned 23,697 shares of the company’s stock, valued at $376,071.39. This represents a 11.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gary Torgow acquired 12,700 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The shares were acquired at an average price of $15.73 per share, for a total transaction of $199,771.00. Following the acquisition, the director directly owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. The trade was a 1.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HBAN. Morgan Stanley lowered Huntington Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $21.00 to $19.00 in a research note on Friday, July 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, August 18th. DA Davidson cut their price target on Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, September 21st. Stephens cut their price target on Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. Finally, Argus reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.89.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $15.92 on Tuesday. The company has a market cap of $32.17 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. Huntington Bancshares Incorporated has a 12 month low of $14.82 and a 12 month high of $19.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day simple moving average of $15.82 and a 200-day simple moving average of $16.64.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be paid a $0.1550 dividend. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 18th. Huntington Bancshares’s payout ratio is presently 51.24%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus.

Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.