Halter Ferguson Financial Inc. Makes New Investment in Huntington Bancshares Incorporated $HBAN

Key Points

• Halter Ferguson Financial opened a new position in Huntington Bancshares during the first quarter, buying 253,026 shares valued at about $3.96 million. The stake represents 0.9% of its portfolio and ranks as its 14th-largest holding.
• Huntington Bancshares beat earnings expectations in its latest quarterly report, posting EPS of $0.37 versus the $0.16 consensus estimate and revenue of $2.59 billion. Analysts currently expect the bank to earn 1.62 EPS for the year.
• The company also announced a quarterly dividend of $0.155 per share, translating to an annualized yield of about 3.5%. Meanwhile, analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and a target price of $20.20.

Halter Ferguson Financial Inc. bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 253,026 shares of the bank's stock, valued at approximately $3,960,000. Huntington Bancshares comprises 0.9% of Halter Ferguson Financial Inc.'s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in HBAN. MV Capital Management Inc. purchased a new position in Huntington Bancshares in the fourth quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. grew its holdings in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock worth $27,000 after purchasing an additional 826 shares during the period. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth about $28,000. Finally, DV Equities LLC purchased a new stake in Huntington Bancshares in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Stock Up 0.2%

Shares of NASDAQ:HBAN opened at $17.89 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $36.27 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The firm's 50-day moving average is $16.62 and its two-hundred day moving average is $16.90. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter last year, the firm posted $0.34 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is currently 47.69%.

Analyst Upgrades and Downgrades

HBAN has been the subject of several research analyst reports. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a report on Monday. Weiss Ratings downgraded shares of Huntington Bancshares from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 18th. Royal Bank Of Canada boosted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Finally, Wolfe Research decreased their price target on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $20.20.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the business's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director directly owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 33,500 shares of company stock valued at $617,542 in the last three months. 0.67% of the stock is currently owned by corporate insiders.

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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