ProShare Advisors LLC Purchases 20,598 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

ProShare Advisors LLC grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 379,762 shares of the bank's stock after acquiring an additional 20,598 shares during the period. ProShare Advisors LLC's holdings in Huntington Bancshares were worth $6,179,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Creative Capital Management Investments LLC grew its stake in Huntington Bancshares by 17,533.3% during the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock worth $26,000 after purchasing an additional 1,578 shares during the period. Y.D. More Investments Ltd boosted its holdings in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after buying an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $37,000. Transce3nd LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at $48,000. Finally, Asset Dedication LLC increased its stake in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after acquiring an additional 1,260 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Brantley J. Standridge sold 70,417 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the sale, the vice president now owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. This trade represents a 17.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 3,434 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $14.50, for a total value of $49,793.00. Following the completion of the sale, the insider now owns 66,847 shares in the company, valued at $969,281.50. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,456 shares of company stock valued at $4,464,105. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

HBAN stock opened at $16.18 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market cap of $23.63 billion, a PE ratio of 13.15, a P/E/G ratio of 1.33 and a beta of 0.89. The business has a 50 day moving average of $14.46 and a 200-day moving average of $15.97. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.27 EPS. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares declared that its board has authorized a stock repurchase program on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.83%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Raymond James reaffirmed a "strong-buy" rating and set a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. Finally, Truist Financial cut their price target on Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.58.

Huntington Bancshares 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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