Arvest Investments Inc. Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Arvest Investments Inc. boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 13.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,406 shares of the bank's stock after buying an additional 16,465 shares during the quarter. Arvest Investments Inc.'s holdings in Huntington Bancshares were worth $2,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Donaldson Capital Management LLC boosted its position in Huntington Bancshares by 5.7% during the first quarter. Donaldson Capital Management LLC now owns 63,892 shares of the bank's stock valued at $959,000 after acquiring an additional 3,448 shares during the last quarter. CX Institutional lifted its stake in shares of Huntington Bancshares by 6.0% in the 1st quarter. CX Institutional now owns 20,337 shares of the bank's stock valued at $305,000 after purchasing an additional 1,145 shares during the period. Assenagon Asset Management S.A. increased its holdings in Huntington Bancshares by 3,352.7% in the first quarter. Assenagon Asset Management S.A. now owns 2,069,450 shares of the bank's stock worth $31,062,000 after purchasing an additional 2,009,513 shares in the last quarter. Accurate Wealth Management LLC grew its position in shares of Huntington Bancshares by 10.8% during the 1st quarter. Accurate Wealth Management LLC now owns 17,548 shares of the bank's stock worth $263,000 after buying an additional 1,713 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Huntington Bancshares by 6.4% in the 1st quarter. GAMMA Investing LLC now owns 42,196 shares of the bank's stock valued at $633,000 after acquiring an additional 2,540 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded down $0.45 during trading on Friday, reaching $15.51. 36,224,860 shares of the company's stock traded hands, compared to its average volume of 18,601,267. The firm's 50-day moving average is $14.96 and its 200 day moving average is $15.78. The company has a market capitalization of $22.66 billion, a P/E ratio of 12.61, a PEG ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the firm posted $0.27 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.00%. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares declared that its board has approved a share buyback plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HBAN. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective on the stock. Keefe, Bruyette & Woods cut their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Cowen started coverage on Huntington Bancshares in a report on Wednesday, May 14th. They set a "buy" rating for the company. Morgan Stanley reduced their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.08.

Insider Buying and Selling

In other news, insider Kendall A. Kowalski sold 3,434 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $14.50, for a total value of $49,793.00. Following the sale, the insider now directly owns 66,847 shares of the company's stock, valued at approximately $969,281.50. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 42,345 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider now directly owns 592,119 shares of the company's stock, valued at approximately $8,715,991.68. The trade was a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,917 shares of company stock valued at $2,897,659. Corporate insiders own 0.89% of the company's stock.

About Huntington Bancshares

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.