Midwest Trust Co Grows Stock Holdings in Huntington Bancshares Incorporated $HBAN

Midwest Trust Co lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.2% during the first quarter, Holdings Channel reports. The fund owned 1,663,832 shares of the bank’s stock after buying an additional 139,876 shares during the quarter. Midwest Trust Co’s holdings in Huntington Bancshares were worth $26,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in HBAN. Fifth Third Bancorp lifted its position in Huntington Bancshares by 500.8% during the first quarter. Fifth Third Bancorp now owns 604,166 shares of the bank’s stock valued at $9,455,000 after purchasing an additional 503,604 shares during the period. Simplicity Wealth LLC grew its position in Huntington Bancshares by 24.7% during the 1st quarter. Simplicity Wealth LLC now owns 14,807 shares of the bank’s stock worth $232,000 after purchasing an additional 2,935 shares during the period. Candriam S.C.A. raised its stake in shares of Huntington Bancshares by 7.4% during the 1st quarter. Candriam S.C.A. now owns 173,268 shares of the bank’s stock valued at $2,712,000 after buying an additional 11,887 shares during the last quarter. Torren Management LLC raised its stake in shares of Huntington Bancshares by 101.9% during the 1st quarter. Torren Management LLC now owns 7,249 shares of the bank’s stock valued at $113,000 after buying an additional 3,658 shares during the last quarter. Finally, Elevated Capital Advisors LLC lifted its holdings in shares of Huntington Bancshares by 8.3% in the 1st quarter. Elevated Capital Advisors LLC now owns 56,444 shares of the bank’s stock valued at $883,000 after buying an additional 4,321 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded up $0.11 during trading hours on Friday, reaching $17.87. The stock had a trading volume of 14,157,471 shares, compared to its average volume of 19,734,146. The stock’s 50 day moving average is $16.73 and its 200 day moving average is $16.91. 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 twelve month low of $14.89 and a twelve month high of $19.45. The firm has a market capitalization of $36.22 billion, a PE ratio of 13.75, a PEG ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 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 for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm earned $0.34 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Analysts Set New Price Targets

A number of analysts have recently commented on HBAN shares. Evercore restated an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research note on Monday, July 6th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Thursday, April 23rd. Weiss Ratings raised Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. The Goldman Sachs Group lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Wolfe Research dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.25.

Insider Buying and Selling

In other news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on 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 transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on 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 directly owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders bought 33,500 shares of company stock valued at $617,542 over the last 90 days. Company insiders own 0.67% of the company’s stock.

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.