Greenwood Capital Associates LLC Has $6.63 Million Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Greenwood Capital boosted its stake in Huntington Bancshares by 33.2%, buying 95,291 shares to hold 382,176 shares valued at approximately $6.63 million.
• Huntington missed quarterly expectations with EPS of $0.37 (vs. $0.40 est.) and revenue of $1.61 billion (vs. $2.21 billion est.), while the stock yields 3.7% annually ($0.155 quarterly) and trades at a P/E of 11.99.
• Insider activity was mixed: Director Gary Torgow bought 14,200 shares at $17.81, VP Scott D. Kleinman sold 65,530 shares at $15.28, and insiders were net sellers over the quarter (27,700 bought vs. 98,986 sold).

Greenwood Capital Associates LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 33.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,176 shares of the bank's stock after buying an additional 95,291 shares during the period. Greenwood Capital Associates LLC's holdings in Huntington Bancshares were worth $6,631,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock valued at $3,056,459,000 after buying an additional 680,601 shares during the period. Boston Partners lifted its holdings in Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank's stock valued at $1,091,615,000 after buying an additional 2,363,905 shares during the period. Invesco Ltd. lifted its holdings in Huntington Bancshares by 1.5% in the third quarter. Invesco Ltd. now owns 59,062,922 shares of the bank's stock valued at $1,020,017,000 after buying an additional 861,263 shares during the period. Victory Capital Management Inc. lifted its holdings in Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank's stock valued at $594,054,000 after buying an additional 4,640,302 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Huntington Bancshares by 4.7% in the third quarter. Federated Hermes Inc. now owns 21,292,946 shares of the bank's stock valued at $367,729,000 after buying an additional 956,933 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

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

Huntington Bancshares Trading Up 0.5%

Shares of NASDAQ HBAN opened at $16.67 on Thursday. The company's fifty day moving average is $16.53 and its 200-day moving average is $16.73. The stock has a market cap of $33.96 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 0.72 and a beta of 0.95. Huntington Bancshares Incorporated has a twelve month low of $13.10 and a twelve month high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 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 company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, March 18th. Huntington Bancshares's dividend payout ratio (DPR) is presently 44.60%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HBAN. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, February 4th. Truist Financial reduced their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, March 13th. The Goldman Sachs Group reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Keefe, Bruyette & Woods reduced their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating on the stock in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $20.13.

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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