Huntington Bancshares Incorporated $HBAN Stock: Investment Partners LTD. Boosts Holdings

Key Points

• Investment Partners LTD. more than doubled its Huntington Bancshares stake during the third quarter, increasing holdings by 125.7% to 123,165 shares valued at approximately $1.88 million. Institutional investors collectively own 80.72% of HBAN.
• Huntington Bancshares reported quarterly EPS of $0.38, in line with analyst expectations, while revenue of $2.79 billion came in slightly below consensus. Analysts expect full-year EPS of approximately $1.54.
• The bank declared a quarterly dividend of $0.155 per share, equivalent to an annualized dividend of $0.62 and a yield of about 3.9%. Wall Street’s consensus rating remains “Moderate Buy,” with an average price target of $18.98 versus a recent share price of $15.78.

Investment Partners LTD. increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 125.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,165 shares of the bank's stock after purchasing an additional 68,606 shares during the quarter. Investment Partners LTD.'s holdings in Huntington Bancshares were worth $1,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HBAN. Americana Partners LLC lifted its stake in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Americana Partners LLC now owns 124,808 shares of the bank's stock valued at $1,905,000 after purchasing an additional 4,627 shares during the period. Glenview Trust Co increased its stake in Huntington Bancshares by 9.9% during the 3rd quarter. Glenview Trust Co now owns 11,600 shares of the bank's stock valued at $177,000 after purchasing an additional 1,047 shares in the last quarter. Parcion Private Wealth LLC lifted its holdings in shares of Huntington Bancshares by 31.7% in the third quarter. Parcion Private Wealth LLC now owns 25,902 shares of the bank's stock valued at $395,000 after purchasing an additional 6,242 shares in the last quarter. Soltis Investment Advisors LLC purchased a new position in Huntington Bancshares during the third quarter worth about $625,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.78 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Huntington Bancshares Incorporated has a one year low of $14.82 and a one year high of $19.45. The firm has a market capitalization of $31.88 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.01 and a beta of 0.95. The company has a 50-day simple moving average of $15.96 and a two-hundred day simple moving average of $16.70.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting analysts' consensus estimates of $0.38. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm earned $0.41 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.54 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be paid a $0.1550 dividend. The ex-dividend date is Friday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares's payout ratio is presently 51.24%.

Insider Transactions at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares in the company, valued at $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary Torgow bought 12,700 shares of the firm's stock in a transaction on Tuesday, October 27th. The shares were bought at an average price of $15.73 per share, with a total value of $199,771.00. Following the completion of the purchase, the director owned 956,041 shares in the company, valued at approximately $15,038,524.93. The trade was a 1.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Bank of America downgraded shares of Huntington Bancshares from a "buy" rating to a "neutral" rating and reduced their target price for the company from $20.00 to $18.50 in a research report on Monday, July 27th. DA Davidson decreased their price objective on Huntington Bancshares from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, September 21st. Evercore cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, September 18th. Morgan Stanley cut Huntington Bancshares from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $21.00 to $19.00 in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on Huntington Bancshares from $17.50 to $18.00 and gave the stock an "overweight" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.98.

Huntington Bancshares Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

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