ABC Arbitrage SA Makes New Investment in Huntington Bancshares Incorporated $HBAN

ABC Arbitrage SA acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,975 shares of the bank's stock, valued at approximately $1,017,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HBAN. MV Capital Management Inc. acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. Centennial Bank AR bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $28,000. DV Equities LLC acquired a new stake in Huntington Bancshares during the fourth quarter worth approximately $38,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in Huntington Bancshares by 403.1% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank's stock worth $45,000 after acquiring an additional 2,092 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Trading Up 0.3%

Shares of NASDAQ HBAN opened at $17.93 on Tuesday. The firm has a 50 day moving average price of $16.75 and a two-hundred day moving average price of $16.90. The stock has a market cap of $36.35 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly 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 net margin of 16.63% and a return on equity of 11.42%. The business had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the business's 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 owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 shares were 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 of the company's stock, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 33,500 shares of company stock worth $617,542. Corporate insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HBAN shares. Royal Bank Of Canada increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Evercore reaffirmed an "outperform" rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, July 6th. Wolfe Research cut their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 1st. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Finally, Piper Sandler raised shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 target price on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.25.

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.

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