Diversified Trust Co Invests $1.64 Million in Huntington Bancshares Incorporated $HBAN

Key Points

• Diversified Trust Co bought a new stake in Huntington Bancshares during the first quarter, purchasing 104,672 shares valued at about $1.64 million.
• Huntington Bancshares reported better-than-expected quarterly results, with EPS of $0.37 versus the $0.16 estimate and revenue of $2.59 billion, while analysts still see full-year EPS of 1.61.
• The company also declared a quarterly dividend of $0.155 per share, equal to an annualized yield of 3.6%, and Wall Street currently rates the stock a Moderate Buy with a consensus target price of $20.05.

Diversified Trust Co purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 104,672 shares of the bank's stock, valued at approximately $1,638,000.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its holdings in Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank's stock valued at $434,000 after acquiring an additional 1,366 shares during the period. Woodline Partners LP boosted its holdings in shares of Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank's stock worth $1,844,000 after acquiring an additional 35,574 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Huntington Bancshares by 8.3% in the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank's stock worth $662,000 after acquiring an additional 3,023 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Huntington Bancshares by 6.2% in the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank's stock valued at $3,674,000 after purchasing an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Huntington Bancshares by 6.2% in the second quarter. Sei Investments Co. now owns 707,605 shares of the bank's stock valued at $11,859,000 after purchasing an additional 41,156 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James D. Rollins III sold 223,522 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders bought 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HBAN. JPMorgan Chase & Co. dropped their price objective on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Jefferies Financial Group lifted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, April 24th. Piper Sandler upgraded Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Huntington Bancshares from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $20.05.

Huntington Bancshares Trading Up 1.1%

Huntington Bancshares stock opened at $17.05 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The stock has a market cap of $34.56 billion, a P/E ratio of 13.12, a PEG ratio of 0.77 and a beta of 0.94. The firm's fifty day moving average price is $16.41 and its 200-day moving average price is $16.87.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

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.

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.