Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 450,031 shares of the bank's stock after purchasing an additional 22,017 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Huntington Bancshares were worth $6,755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the last quarter. Invesco Ltd. increased its position in Huntington Bancshares by 4.6% during the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock worth $855,802,000 after purchasing an additional 2,310,502 shares during the last quarter. FMR LLC increased its position in Huntington Bancshares by 36.9% during the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after purchasing an additional 8,759,871 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock worth $355,094,000 after acquiring an additional 1,506,606 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth $302,826,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HBAN. TD Cowen began coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective for the company. Truist Financial increased their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday. Robert W. Baird raised shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a research report on Friday, March 7th. Raymond James reissued a "strong-buy" rating and issued a $18.00 price objective (down previously from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average target price of $18.08.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 59,060 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total value of $848,101.60. Following the transaction, the chief financial officer now directly owns 277,348 shares in the company, valued at approximately $3,982,717.28. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 42,345 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider now owns 592,119 shares in the company, valued at approximately $8,715,991.68. The trade was a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,917 shares of company stock worth $2,897,659. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Trading Down 2.8%

NASDAQ HBAN opened at $15.51 on Friday. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. The company's fifty day moving average price is $14.96 and its two-hundred day moving average price is $15.76.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating 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 firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $0.27 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.00%. Huntington Bancshares's payout ratio is currently 47.33%.

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

Huntington Bancshares Company Profile

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.

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