ProShare Advisors LLC Has $6.18 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

ProShare Advisors LLC raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 large investors have also recently bought and sold shares of the company. Creative Capital Management Investments LLC grew its position in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after acquiring an additional 1,578 shares during the period. Y.D. More Investments Ltd grew its position in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after acquiring an additional 1,023 shares during the period. Midwest Capital Advisors LLC bought a new stake in Huntington Bancshares in the fourth quarter valued at $37,000. Transce3nd LLC bought a new stake in Huntington Bancshares in the fourth quarter valued at $48,000. Finally, Asset Dedication LLC grew its position in Huntington Bancshares by 70.0% in the fourth 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 during the period. 80.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Baird R W upgraded Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a research note on Friday, March 7th. Cowen assumed coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. JPMorgan Chase & Co. lowered 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. Finally, TD Cowen assumed coverage on Huntington Bancshares in a research note on Thursday, May 15th. They issued a "buy" rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.83.

Huntington Bancshares Trading Down 0.7%

NASDAQ:HBAN traded down $0.11 during mid-day trading on Friday, hitting $15.32. The company had a trading volume of 25,782,903 shares, compared to its average volume of 18,043,730. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The business's fifty day moving average is $14.56 and its two-hundred day moving average is $15.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $22.38 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.33 and a beta of 0.89.

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

Huntington Bancshares Dividend Announcement

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 paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.05%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.

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

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. This represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by company insiders.

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.