Vaughan Nelson Investment Management L.P. Makes New Investment in Huntington Bancshares Incorporated $HBAN

Key Points

• Vaughan Nelson Investment Management disclosed a new first-quarter stake in Huntington Bancshares, buying 1,411,002 shares valued at about $22.1 million.
• Huntington Bancshares posted better-than-expected earnings, reporting $0.37 EPS versus the $0.16 consensus, while revenue of $2.59 billion also slightly topped estimates.
• The bank announced a quarterly dividend of $0.155 per share, implying a 3.6% annualized yield, while analysts currently rate the stock Moderate Buy with an average target price of $20.05.

Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,411,002 shares of the bank's stock, valued at approximately $22,082,000. Vaughan Nelson Investment Management L.P. owned about 0.07% of Huntington Bancshares as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in Huntington Bancshares during the 4th quarter valued at about $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares in the third quarter worth about $26,000. South Plains Financial Inc. boosted its position in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock valued at $27,000 after buying an additional 826 shares during the period. Centennial Bank AR purchased a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $28,000. Finally, Accredited Wealth Management LLC grew its stake in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock valued at $29,000 after buying an additional 1,322 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of research analyst reports. Piper Sandler raised Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price target for the company in a research note on Thursday, April 23rd. The Goldman Sachs Group decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Royal Bank Of Canada cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Finally, Morgan Stanley reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.05.

Huntington Bancshares Trading Up 1.1%

Shares of NASDAQ HBAN opened at $17.05 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $16.41 and a two-hundred day simple moving average of $16.87. The firm has a market cap of $34.56 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

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

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares's dividend payout ratio is presently 47.69%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have bought 33,500 shares of company stock worth $617,542. 0.67% of the stock is owned by corporate insiders.

Huntington Bancshares 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.

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.