Aquatic Capital Management LLC Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Aquatic Capital Management LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 193,460 shares of the bank's stock, valued at approximately $3,148,000.

Other hedge funds also recently bought and sold shares of the company. Arvest Bank Trust Division bought a new stake in shares of Huntington Bancshares in the third quarter valued at about $2,381,000. Wilmington Savings Fund Society FSB acquired a new position in Huntington Bancshares in the third quarter worth about $1,389,000. Franklin Resources Inc. raised its position in Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank's stock worth $27,901,000 after purchasing an additional 55,602 shares in the last quarter. Principal Financial Group Inc. raised its position in Huntington Bancshares by 6.9% in the third quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank's stock worth $25,627,000 after purchasing an additional 112,146 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Huntington Bancshares by 10.2% during the fourth quarter. GAMMA Investing LLC now owns 39,656 shares of the bank's stock worth $645,000 after buying an additional 3,668 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares of the company's stock, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,051 shares of company stock worth $2,992,685. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Up 0.6 %

Shares of NASDAQ:HBAN traded up $0.09 during mid-day trading on Thursday, reaching $14.62. 14,989,736 shares of the stock were exchanged, compared to its average volume of 17,367,915. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market cap of $21.36 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The stock's 50 day simple moving average is $14.49 and its 200-day simple moving average is $15.98.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company earned $0.27 earnings per share. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.24%. Huntington Bancshares's payout ratio is presently 47.33%.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent analyst reports. Truist Financial dropped their price objective on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target on the stock in a research note on Thursday, April 24th. Barclays increased their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Finally, Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.45.

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.