Aigen Investment Management LP Purchases 154,756 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Aigen Investment Management LP increased its Huntington Bancshares stake by 181.8% in the fourth quarter, buying 154,756 additional shares to bring its total to 239,866 shares valued at about $4.16 million.
• Huntington Bancshares reported strong quarterly results, posting EPS of $0.37 versus the $0.16 consensus estimate and revenue of $2.59 billion, while analysts expect full-year EPS of 1.61.
• The bank continues to attract attention from investors and analysts: it pays a quarterly dividend of $0.155 per share (3.5% yield), and Wall Street’s consensus rating remains Moderate Buy with an average price target of $20.10.

Aigen Investment Management LP lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 181.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,866 shares of the bank's stock after acquiring an additional 154,756 shares during the quarter. Huntington Bancshares makes up approximately 1.0% of Aigen Investment Management LP's portfolio, making the stock its 11th largest position. Aigen Investment Management LP's holdings in Huntington Bancshares were worth $4,162,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HBAN. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth $26,000. South Plains Financial Inc. grew its stake in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock worth $27,000 after acquiring an additional 826 shares in the last quarter. Accredited Wealth Management LLC grew its stake in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock worth $29,000 after acquiring an additional 1,322 shares in the last quarter. AlphaCore Capital LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth $33,000. Finally, Quest 10 Wealth Builders Inc. grew its stake in shares of Huntington Bancshares by 403.1% in 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 in the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.52 on Friday. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a market cap of $35.52 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The firm's 50-day simple moving average is $16.29 and its two-hundred day simple moving average is $16.83.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. Research analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HBAN. Jefferies Financial Group boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, April 24th. The Goldman Sachs Group cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Barclays downgraded shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, April 20th. DA Davidson cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, March 16th. 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 investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $20.10.

Insider Activity

In related news, Director James D. Rollins III acquired 4,798 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately $203,000. This trade represents a 92.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 33,500 shares of company stock valued at $617,542 over the last quarter. Corporate insiders own 0.67% of the company's stock.

Huntington Bancshares Profile

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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