Pallas Capital Advisors LLC Has $1.13 Million Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pallas Capital Advisors LLC grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 142.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,206 shares of the bank's stock after purchasing an additional 44,138 shares during the quarter. Pallas Capital Advisors LLC's holdings in Huntington Bancshares were worth $1,129,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Creative Capital Management Investments LLC grew its holdings in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock worth $26,000 after acquiring an additional 1,578 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth $37,000. Transce3nd LLC bought a new stake in Huntington Bancshares in the fourth quarter valued at about $48,000. Curat Global LLC acquired a new position in Huntington Bancshares in the first quarter valued at about $52,000. Finally, Venturi Wealth Management LLC lifted its stake in Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock valued at $53,000 after buying an additional 702 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Analysts Set New Price Targets

HBAN has been the topic of several analyst reports. Raymond James reiterated a "strong-buy" rating and issued a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Truist Financial lifted their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday. Jefferies Financial Group initiated coverage on Huntington Bancshares in a report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded 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. Finally, Baird R W raised Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.08.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the transaction, the insider now owns 592,119 shares of the company's stock, valued at $8,715,991.68. This represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brantley J. Standridge sold 70,417 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the transaction, the vice president now directly owns 326,456 shares of the company's stock, valued at $4,469,182.64. This represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,917 shares of company stock valued at $2,897,659. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

NASDAQ HBAN traded down $0.45 on Friday, hitting $15.51. 36,224,860 shares of the company's stock were exchanged, compared to its average volume of 18,564,457. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The stock has a 50-day moving average of $14.96 and a 200-day moving average of $15.76. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.33 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the previous year, the business posted $0.27 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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

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

About Huntington Bancshares

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.