Arbor Investment Advisors LLC Takes Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Arbor Investment Advisors opened a new position in Huntington Bancshares, buying 132,157 shares worth about $2.07 million in the first quarter.
• Institutional ownership remains high, with 80.72% of Huntington Bancshares stock held by institutions, while several large funds recently increased their stakes.
• Analysts remain generally positive on HBAN despite some mixed rating changes, with a consensus “Moderate Buy” and an average price target of $20.15.

Arbor Investment Advisors LLC acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 132,157 shares of the bank's stock, valued at approximately $2,068,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its stake in Huntington Bancshares by 24.5% during the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank's stock valued at $9,248,000 after acquiring an additional 104,965 shares in the last quarter. Fieldview Capital Management LLC lifted its stake in Huntington Bancshares by 15.9% in the 3rd quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank's stock worth $8,270,000 after purchasing an additional 65,828 shares in the last quarter. KBC Group NV lifted its stake in Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank's stock worth $48,941,000 after purchasing an additional 395,489 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Huntington Bancshares by 688.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank's stock valued at $1,500,000 after purchasing an additional 75,516 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank's stock valued at $141,625,000 after purchasing an additional 1,652,464 shares during the period. 80.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HBAN has been the topic of several research analyst reports. Barclays cut shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, April 20th. Wolfe Research lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Morgan Stanley lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, June 29th. DA Davidson cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a report on Monday, March 16th. Finally, The Goldman Sachs Group decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $20.15.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 10,568 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares of the company's stock, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 33,500 shares of company stock worth $617,542 in the last 90 days. Corporate insiders own 0.67% of the company's stock.

Huntington Bancshares Price Performance

HBAN opened at $17.86 on Monday. The company has a market cap of $36.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 0.93. The business's 50-day moving average price is $16.60 and its 200-day moving average price is $16.90. 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 12 month low of $14.89 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company earned $0.34 EPS. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

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

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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