Dimensional Fund Advisors LP Purchases 123,447 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Dimensional Fund Advisors LP boosted its stake in Huntington Bancshares (HBAN) by 123,447 shares in Q3, bringing its holding to 17,163,265 shares — about 1.18% of the company valued at roughly $296.4 million.
• Huntington missed quarterly EPS estimates ($0.37 vs. $0.40), the stock was recently down ~2.2% and traded near $16.31, the firm announced a quarterly dividend of $0.155 (≈3.8% yield), and analysts carry a consensus "Moderate Buy" with an average target of ~$20.78 (Morgan Stanley at $23).

Dimensional Fund Advisors LP grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,163,265 shares of the bank's stock after purchasing an additional 123,447 shares during the period. Dimensional Fund Advisors LP owned approximately 1.18% of Huntington Bancshares worth $296,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HBAN. Parcion Private Wealth LLC raised its holdings in Huntington Bancshares by 6.2% during the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank's stock valued at $191,000 after acquiring an additional 648 shares during the period. Strategic Planning Inc. boosted its holdings in shares of Huntington Bancshares by 0.3% in the third quarter. Strategic Planning Inc. now owns 199,318 shares of the bank's stock worth $3,442,000 after acquiring an additional 670 shares during the period. Benjamin Edwards Inc. grew its position in shares of Huntington Bancshares by 1.0% in the third quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank's stock valued at $1,263,000 after purchasing an additional 758 shares in the last quarter. Wedmont Private Capital grew its position in shares of Huntington Bancshares by 3.1% in the third quarter. Wedmont Private Capital now owns 27,294 shares of the bank's stock valued at $457,000 after purchasing an additional 808 shares in the last quarter. Finally, Chris Bulman Inc raised its stake in shares of Huntington Bancshares by 7.8% during the 3rd quarter. Chris Bulman Inc now owns 11,698 shares of the bank's stock valued at $202,000 after purchasing an additional 847 shares during the period. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Down 2.2%

Shares of HBAN opened at $16.31 on Friday. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a 50 day simple moving average of $17.70 and a two-hundred day simple moving average of $17.08. The firm has a market cap of $33.11 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.67 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period last year, the business posted $0.34 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares's dividend payout ratio (DPR) is presently 44.60%.

Insiders Place Their Bets

In other news, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brantley J. Standridge sold 5,830 shares of the business's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total value of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares of the company's stock, valued at approximately $6,271,718.64. This trade represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 26,488 shares of company stock valued at $510,286 and sold 50,145 shares valued at $929,885. Company insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HBAN. Weiss Ratings reissued a "buy (b-)" rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. UBS Group set a $21.00 price target on Huntington Bancshares in a research report on Wednesday, February 4th. Jefferies Financial Group lowered their price target on shares of Huntington Bancshares from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday. Morgan Stanley raised their price objective on shares of Huntington Bancshares from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Finally, Piper Sandler upped their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an "underweight" rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.78.

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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