Farther Finance Advisors LLC Has $423,000 Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Farther Finance Advisors LLC raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 129.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,301 shares of the bank's stock after buying an additional 15,984 shares during the quarter. Farther Finance Advisors LLC's holdings in Huntington Bancshares were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in Huntington Bancshares by 220.9% in the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock valued at $59,661,000 after buying an additional 2,524,077 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Huntington Bancshares by 17.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock worth $13,832,000 after purchasing an additional 129,106 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth about $189,000. IFP Advisors Inc raised its position in shares of Huntington Bancshares by 120.6% during the fourth quarter. IFP Advisors Inc now owns 4,503 shares of the bank's stock worth $73,000 after purchasing an additional 2,462 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Huntington Bancshares by 14.6% during the fourth quarter. Global Retirement Partners LLC now owns 11,069 shares of the bank's stock worth $180,000 after purchasing an additional 1,407 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of research analyst reports. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target on the stock in a research report on Friday, March 7th. TD Cowen initiated coverage on Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 price target on the stock. Citigroup dropped their price target on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada dropped their price target on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. dropped their price target on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and an average price target of $18.08.

Huntington Bancshares Stock Performance

HBAN opened at $15.70 on Tuesday. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.33 and a beta of 0.92. The business has a 50 day moving average of $15.02 and a 200-day moving average of $15.73. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data 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. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm posted $0.27 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.95%. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares announced that its board has authorized a stock buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to purchase up to 5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 59,060 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the sale, the chief financial officer now directly owns 277,348 shares of the company's stock, valued at approximately $3,982,717.28. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, the vice president now directly owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,617 shares of company stock valued at $3,113,982 over the last three months. Insiders own 0.89% of the company's stock.

Huntington Bancshares Company Profile

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.

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