Vestmark Advisory Solutions Inc. Acquires New Stake in Huntington Bancshares Incorporated $HBAN

Vestmark Advisory Solutions Inc. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 130,111 shares of the bank’s stock, valued at approximately $2,181,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HBAN. Andra AP fonden lifted its holdings in shares of Huntington Bancshares by 17.8% in the second quarter. Andra AP fonden now owns 270,900 shares of the bank’s stock valued at $4,540,000 after buying an additional 40,900 shares during the period. Resona Asset Management Co. Ltd. grew its holdings in Huntington Bancshares by 6.7% during the second quarter. Resona Asset Management Co. Ltd. now owns 491,180 shares of the bank’s stock worth $8,219,000 after acquiring an additional 30,708 shares during the period. Atlantic Union Bankshares Corp raised its position in Huntington Bancshares by 30.2% in the second quarter. Atlantic Union Bankshares Corp now owns 33,628 shares of the bank’s stock worth $563,000 after acquiring an additional 7,805 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Huntington Bancshares by 6.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 17,160 shares of the bank’s stock valued at $288,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Huntington Bancshares by 3.1% during the 2nd quarter. Moors & Cabot Inc. now owns 51,868 shares of the bank’s stock valued at $869,000 after purchasing an additional 1,582 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Inglis purchased 6,506 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average price of $15.30 per share, with a total value of $99,541.80. Following the completion of the acquisition, the director owned 89,831 shares of the company’s stock, valued at $1,374,414.30. This trade represents a 7.81% increase in their position. The SEC filing for this purchase provides additional information. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Trading Up 1.8%

NASDAQ HBAN opened at $15.69 on Monday. The firm’s 50 day moving average price is $16.66 and its two-hundred day moving average price is $16.38. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.66 and a beta of 1.01.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The business had revenue of $469.00 million during the quarter. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s payout ratio is 43.36%.

Analysts Set New Price Targets

HBAN has been the topic of a number of research reports. Cowen reiterated a “buy” rating on shares of Huntington Bancshares in a report on Monday, October 20th. Evercore ISI started coverage on Huntington Bancshares in a report on Tuesday, October 21st. They issued an “outperform” rating and a $18.00 price target on the stock. Stephens increased their price objective on Huntington Bancshares from $18.00 to $19.00 in a research report on Friday, October 17th. Morgan Stanley lifted their target price on Huntington Bancshares from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. boosted their target price on Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $19.66.

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.