Mustard Seed Financial LLC Purchases New Position in Huntington Bancshares Incorporated $HBAN

Mustard Seed Financial LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 57,356 shares of the bank’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBAN. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares during the third quarter valued at approximately $26,000. South Plains Financial Inc. boosted its position in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the last quarter. Centennial Bank AR bought a new stake in Huntington Bancshares during the fourth quarter worth $28,000. Finally, DV Equities LLC purchased a new stake in Huntington Bancshares in the 4th quarter valued at $38,000. 80.72% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 33,500 shares of company stock valued at $617,542. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Price Performance

HBAN stock opened at $17.86 on Friday. The stock’s fifty day simple moving average is $16.60 and its two-hundred day simple moving average is $16.90. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The stock has a market cap of $36.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HBAN. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial dropped their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Wolfe Research cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.15.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.