Johnson Investment Counsel Inc. grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 50.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,868 shares of the bank's stock after buying an additional 38,450 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Huntington Bancshares were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new position in Huntington Bancshares in the fourth quarter worth approximately $37,000. Transce3nd LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter worth $48,000. Curat Global LLC bought a new position in Huntington Bancshares in the 1st quarter worth $52,000. Venturi Wealth Management LLC lifted its position in Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock valued at $53,000 after purchasing an additional 702 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in Huntington Bancshares during the fourth quarter valued at about $70,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on HBAN shares. Citigroup lowered their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Truist Financial lifted their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target for the company in a research note on Friday, March 7th. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.08.
Get Our Latest Report on HBAN
Huntington Bancshares Price Performance
Shares of HBAN stock traded up $0.19 on Tuesday, reaching $16.26. The company's stock had a trading volume of 26,672,189 shares, compared to its average volume of 18,667,342. The stock's fifty day simple moving average is $15.27 and its 200-day simple moving average is $15.67. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a market capitalization of $23.75 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the company posted $0.27 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.
Huntington Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.81%. Huntington Bancshares's payout ratio is currently 47.33%.
Huntington Bancshares declared that its board has initiated a share buyback plan on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.
Insider Buying and Selling at Huntington Bancshares
In related news, insider Kendall A. Kowalski sold 3,434 shares of Huntington Bancshares stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $14.50, for a total transaction of $49,793.00. Following the completion of the transaction, the insider now directly owns 66,847 shares of the company's stock, valued at approximately $969,281.50. The trade was a 4.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president now directly owns 337,879 shares in the company, valued at $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,096 shares of company stock worth $3,060,286 over the last ninety days. Company insiders own 0.89% of the company's stock.
About Huntington Bancshares
(
Free Report)
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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