Evergreen Capital Management LLC Invests $1.94 Million in Huntington Bancshares Incorporated $HBAN

Key Points

• Evergreen Capital Management opened a new stake in Huntington Bancshares, buying 110,575 shares in Q4 valued at about $1.94 million.
• Analyst views are mixed but the consensus rating is a Moderate Buy with a consensus target of $20.13, even as several firms have cut targets or downgraded the stock.
• Huntington recently missed quarterly estimates (EPS $0.37 vs. $0.40 expected; revenue $1.61B vs. $2.21B expected); shares trade near $16.82 with a 52‑week range of $14.07–$19.45.

Evergreen Capital Management LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 110,575 shares of the bank's stock, valued at approximately $1,935,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Altrius Capital Management Inc purchased a new position in shares of Huntington Bancshares during the third quarter worth $4,894,000. Vanguard Group Inc. boosted its position in shares of Huntington Bancshares by 0.4% during the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock worth $3,056,459,000 after buying an additional 680,601 shares during the period. Midwest Trust Co boosted its position in shares of Huntington Bancshares by 12.7% during the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank's stock worth $26,095,000 after buying an additional 170,240 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Huntington Bancshares in the 3rd quarter valued at approximately $3,746,000. Finally, JPMorgan Chase & Co. boosted its position in Huntington Bancshares by 3.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank's stock valued at $159,543,000 after buying an additional 314,544 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HBAN shares. Barclays cut shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research report on Monday. Royal Bank Of Canada decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Argus raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.13.

Huntington Bancshares Stock Down 0.9%

Shares of Huntington Bancshares stock opened at $16.82 on Thursday. Huntington Bancshares Incorporated has a 52-week low of $14.07 and a 52-week high of $19.45. The company has a 50 day moving average of $16.34 and a 200 day moving average of $16.72. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $34.26 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.73 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Huntington Bancshares news, Director Gary Torgow purchased 14,200 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $17.81 per share, with a total value of $252,902.00. Following the completion of the acquisition, the director directly owned 943,341 shares of the company's stock, valued at $16,800,903.21. This trade represents a 1.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president directly owned 481,676 shares of the company's stock, valued at $7,360,009.28. This trade represents a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have bought 27,700 shares of company stock valued at $540,401 and have sold 98,986 shares valued at $1,600,958. Insiders own 0.67% of the company's stock.

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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