Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1,497.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 633,362 shares of the bank's stock after buying an additional 593,706 shares during the period. GAMMA Investing LLC's holdings in Huntington Bancshares were worth $95,070,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HBAN. Creative Capital Management Investments LLC grew its holdings in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after purchasing an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter worth about $37,000. Transce3nd LLC purchased a new position in Huntington Bancshares in the fourth quarter valued at about $48,000. Finally, Venturi Wealth Management LLC grew its stake in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock valued at $53,000 after purchasing an additional 702 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. This trade represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares in the company, valued at $731,237.50. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 312,456 shares of company stock worth $4,464,105 over the last ninety days. Corporate insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on HBAN shares. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price on the stock in a research report on Friday, March 7th. Argus set a $17.00 target price on Huntington Bancshares in a research report on Friday, April 25th. Royal Bank of Canada reduced their price target on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Truist Financial reduced their price objective on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus target price of $17.83.

Huntington Bancshares Trading Up 0.4%

Huntington Bancshares stock traded up $0.07 during trading on Thursday, hitting $15.81. The company had a trading volume of 8,347,886 shares, compared to its average volume of 21,954,965. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company's 50 day simple moving average is $14.65 and its 200-day simple moving average is $15.87. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its Board of Directors has initiated a share repurchase program on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.92%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

About Huntington Bancshares

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.