Barclays PLC Grows Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Barclays PLC increased its stake in Huntington Bancshares by 48.9% in the fourth quarter, buying more than 3.3 million additional shares and ending with about 10.1 million shares worth roughly $174.5 million.
• Analyst sentiment is mixed but mostly positive: the stock currently carries a “Moderate Buy” consensus rating with an average target price of $20.05, though Barclays recently cut its rating to “strong sell” and trimmed its price outlook.
• Huntington Bancshares reported solid recent results and a dividend, posting EPS of $0.37 versus estimates of $0.16 and announcing a quarterly dividend of $0.155 per share, equal to an annualized yield of about 3.6%.

Barclays PLC grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,055,709 shares of the bank's stock after buying an additional 3,302,057 shares during the quarter. Barclays PLC owned approximately 0.64% of Huntington Bancshares worth $174,467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HBAN. Sagespring Wealth Partners LLC lifted its stake in shares of Huntington Bancshares by 2.4% in the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank's stock valued at $438,000 after purchasing an additional 587 shares during the period. MCF Advisors LLC lifted its stake in shares of Huntington Bancshares by 12.6% in the 4th quarter. MCF Advisors LLC now owns 5,438 shares of the bank's stock valued at $95,000 after purchasing an additional 609 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Huntington Bancshares by 4.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock valued at $292,000 after purchasing an additional 694 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Huntington Bancshares by 0.4% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 189,963 shares of the bank's stock valued at $3,296,000 after purchasing an additional 700 shares during the period. Finally, Glenmede Investment Management LP lifted its stake in shares of Huntington Bancshares by 1.7% in the 3rd quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank's stock valued at $755,000 after purchasing an additional 728 shares during the period. Hedge funds and other institutional investors own 80.72% of the company's stock.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. Barclays cut Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research note on Monday, April 20th. Wolfe Research reduced their price objective on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 1st. Piper Sandler raised Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective for the company in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating for the company in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.05.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III bought 4,798 shares of Huntington Bancshares stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $20.30 per share, with a total value of $97,399.40. Following the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders acquired 33,500 shares of company stock valued at $617,542. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Down 1.8%

Huntington Bancshares stock opened at $17.21 on Tuesday. The firm has a market cap of $34.89 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.80 and a beta of 0.94. The stock has a fifty day simple moving average of $16.32 and a two-hundred day simple moving average of $16.85. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. 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 (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter last year, the company earned $0.34 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.69%.

Huntington Bancshares Company 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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