150,791 Huntington Bancshares Incorporated $HBAN Shares Bought by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer increased its Huntington Bancshares stake by 2.8% in the third quarter, acquiring 150,791 shares and bringing its holdings to 5.51 million shares valued at approximately $84.2 million. Institutional investors own 80.72% of HBAN.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $18.98, despite several recent target reductions.
• Huntington Bancshares reported quarterly earnings of $0.38 per share, matching estimates, and declared a quarterly dividend of $0.155 per share, representing a 3.9% annualized yield. Two directors also purchased shares in late October.

Bank Julius Baer & Co. Ltd Zurich grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 2.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,514,427 shares of the bank's stock after acquiring an additional 150,791 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.27% of Huntington Bancshares worth $84,165,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in HBAN. TD Waterhouse Canada Inc. increased its position in shares of Huntington Bancshares by 90.7% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,682 shares of the bank's stock valued at $26,000 after purchasing an additional 800 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of Huntington Bancshares in the second quarter worth about $29,000. Johnson Financial Group Inc. bought a new position in shares of Huntington Bancshares in the 2nd quarter worth approximately $31,000. Livelsberger Financial Advisory bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Huntington Bancshares by 80.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank's stock worth $35,000 after purchasing an additional 994 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HBAN shares. TD Cowen assumed coverage on Huntington Bancshares in a research note on Thursday, October 8th. They issued a "buy" rating and a $18.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Jefferies Financial Group reduced their target price on Huntington Bancshares from $18.00 to $17.00 and set a "hold" rating for the company in a research note on Thursday, September 24th. Stephens decreased their price target on Huntington Bancshares from $19.00 to $18.00 in a research note on Tuesday, September 22nd. Finally, Truist Financial reduced their price target on Huntington Bancshares from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.98.

Insiders Place Their Bets

In related news, Director James D. Rollins III purchased 14,000 shares of the company's stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the completion of the transaction, the director owned 15,500 shares in the company, valued at approximately $280,860. The trade was a 933.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary Torgow bought 12,700 shares of the firm's stock in a transaction that occurred on Tuesday, October 27th. The shares were purchased at an average cost of $15.73 per share, with a total value of $199,771.00. Following the transaction, the director directly owned 956,041 shares of the company's stock, valued at $15,038,524.93. The trade was a 1.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.67% of the company's stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $15.78 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The stock's 50 day moving average is $15.96 and its two-hundred day moving average is $16.70. Huntington Bancshares Incorporated has a 1-year low of $14.82 and a 1-year high of $19.45. The company has a market capitalization of $31.88 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.01 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results 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 the consensus estimate 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 last year, the firm earned $0.41 earnings per share. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be given a dividend of $0.1550 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares's dividend payout ratio (DPR) is presently 51.24%.

Huntington Bancshares Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

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