Huntington Bancshares Incorporated $HBAN Shares Bought by Fieldview Capital Management LLC

Key Points

• Fieldview Capital Management LLC increased its Huntington Bancshares holding by 15.9%, buying 65,828 shares to reach 478,852 shares valued at $8.27 million, making HBAN its third-largest position (~1.4% of the fund).
• Huntington missed recent quarterly expectations, reporting EPS of $0.37 vs. $0.40 consensus and revenue of $2.19B versus $2.21B, and the stock traded down about 2.2%.
• The bank declared a quarterly dividend of $0.155 (annualized $0.62) for a ~3.8% yield, while analysts maintain a consensus rating of Moderate Buy with an average target of $20.78.

Fieldview Capital Management LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 15.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 478,852 shares of the bank's stock after buying an additional 65,828 shares during the period. Huntington Bancshares makes up about 1.4% of Fieldview Capital Management LLC's investment portfolio, making the stock its 3rd biggest position. Fieldview Capital Management LLC's holdings in Huntington Bancshares were worth $8,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $374,474,000. Victory Capital Management Inc. boosted its position in shares of Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank's stock worth $594,054,000 after purchasing an additional 4,640,302 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Huntington Bancshares by 1,700.0% during the second quarter. Fisher Asset Management LLC now owns 3,351,087 shares of the bank's stock worth $56,164,000 after purchasing an additional 3,164,915 shares during the period. Jefferies Financial Group Inc. grew its stake in shares of Huntington Bancshares by 14,950.0% during the second quarter. Jefferies Financial Group Inc. now owns 3,004,729 shares of the bank's stock worth $50,359,000 after purchasing an additional 2,984,764 shares during the period. Finally, Boston Partners increased its holdings in Huntington Bancshares by 4.8% in the second quarter. Boston Partners now owns 60,939,048 shares of the bank's stock valued at $1,020,382,000 after purchasing an additional 2,776,429 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Down 2.2%

Shares of Huntington Bancshares stock opened at $16.31 on Monday. The company has a market capitalization of $33.11 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50-day moving average of $17.70 and a two-hundred day moving average of $17.08. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm earned $0.34 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares's payout ratio is presently 44.60%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HBAN shares. Stephens increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. Evercore initiated coverage on shares of Huntington Bancshares in a research report on Tuesday, February 3rd. They issued an "outperform" rating and a $21.00 price target on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, January 12th. Finally, Jefferies Financial Group decreased their price objective on shares of Huntington Bancshares from $22.00 to $21.00 and set a "buy" rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.78.

Insider Buying and Selling

In other news, insider Amit Dhingra sold 10,000 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the sale, the insider owned 155,634 shares of the company's stock, valued at $2,879,229. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the sale, the vice president owned 42,398 shares in the company, valued at approximately $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have acquired 26,488 shares of company stock valued at $510,286 and have sold 50,145 shares valued at $929,885. 0.89% of the stock is 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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