Strs Ohio Acquires 123,510 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Strs Ohio raised its stake in Huntington Bancshares by 8.9% in Q4, buying 123,510 shares to hold 1,505,092 shares worth about $26.1 million (≈0.10% of the company).
• Company insiders made recent purchases—Director James D. Rollins III bought 3,029 shares at $21.05 and Director Gary Torgow bought 14,200 shares at $17.81—while insiders overall bought 39,200 shares and sold 98,986 shares last quarter, leaving insiders owning 0.67% of the stock.
• Earnings beat and dividend: Huntington reported Q earnings of $0.37 per share vs. $0.16 expected and revenue slightly above estimates, announced a $0.155 quarterly dividend (3.7% yield), and carries a MarketBeat consensus of "Moderate Buy" with a $20.05 price target.

Strs Ohio grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,505,092 shares of the bank's stock after purchasing an additional 123,510 shares during the period. Strs Ohio owned approximately 0.10% of Huntington Bancshares worth $26,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sagespring Wealth Partners LLC increased its stake in shares of Huntington Bancshares by 2.4% in the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank's stock valued at $438,000 after purchasing an additional 587 shares during the last quarter. Rehmann Capital Advisory Group grew its position in Huntington Bancshares by 4.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock worth $292,000 after acquiring an additional 694 shares during the last quarter. Glenmede Investment Management LP grew its position in Huntington Bancshares by 1.7% during the 3rd quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank's stock worth $755,000 after acquiring an additional 728 shares during the last quarter. Advisory Services Network LLC grew its position in Huntington Bancshares by 2.5% during the 3rd quarter. Advisory Services Network LLC now owns 29,690 shares of the bank's stock worth $513,000 after acquiring an additional 737 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in Huntington Bancshares by 1.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank's stock worth $1,263,000 after acquiring an additional 758 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III purchased 3,029 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average cost of $21.05 per share, with a total value of $63,760.45. Following the purchase, the director owned 9,500 shares in the company, valued at $199,975. This represents a 46.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary Torgow purchased 14,200 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the purchase, the director owned 943,341 shares in the company, valued at $16,800,903.21. This trade represents a 1.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 39,200 shares of company stock worth $756,724 and have sold 98,986 shares worth $1,600,958. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Down 0.8%

Shares of Huntington Bancshares stock opened at $16.63 on Friday. Huntington Bancshares Incorporated has a one year low of $14.78 and a one year high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The stock's 50-day moving average is $16.23 and its 200 day moving average is $16.73. The firm has a market cap of $33.87 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 0.77 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. Huntington Bancshares's dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HBAN shares. Piper Sandler upgraded Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective on the stock in a research report on Thursday, April 23rd. The Goldman Sachs Group reduced their price objective on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Argus boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. reduced their price objective on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating on the stock in a research report on Thursday. Finally, UBS Group set a $21.00 target price on Huntington Bancshares in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.05.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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