Victory Capital Management Inc. Has $649.12 Million Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Victory Capital Management boosted its Huntington Bancshares stake by 9.3% in the fourth quarter, ending with 37.4 million shares valued at about $649.1 million, or 2.38% of the bank.
• Wall Street sentiment is mixed but generally positive: HBAN carries a “Moderate Buy” consensus rating with a $20.10 average price target, though some firms recently trimmed their targets.
• Huntington Bancshares reported better-than-expected quarterly results, with EPS of $0.37 versus $0.16 expected, and it also announced a $0.155 quarterly dividend yielding about 3.5%.

Victory Capital Management Inc. increased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,412,989 shares of the bank's stock after buying an additional 3,182,001 shares during the quarter. Victory Capital Management Inc. owned 2.38% of Huntington Bancshares worth $649,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sagespring Wealth Partners LLC grew its holdings in shares of Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank's stock worth $438,000 after purchasing an additional 587 shares in the last quarter. MCF Advisors LLC grew its position in Huntington Bancshares by 12.6% during the fourth quarter. MCF Advisors LLC now owns 5,438 shares of the bank's stock valued at $95,000 after acquiring an additional 609 shares during the last quarter. Rehmann Capital Advisory Group grew its position in Huntington Bancshares by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock valued at $292,000 after acquiring an additional 694 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Huntington Bancshares by 0.4% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 189,963 shares of the bank's stock worth $3,296,000 after acquiring an additional 700 shares in the last quarter. Finally, Glenmede Investment Management LP lifted its holdings in shares of Huntington Bancshares by 1.7% in 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. Institutional investors and hedge funds own 80.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HBAN shares. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Jefferies Financial Group upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Morgan Stanley cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. Finally, Truist Financial cut their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, March 13th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $20.10.

Insiders Place Their Bets

In related news, Director James D. Rollins III purchased 4,798 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average price of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $203,000. The trade was a 92.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 33,500 shares of company stock valued at $617,542 in the last quarter. Insiders own 0.67% of the company's stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.52 on Friday. The firm has a market cap of $35.52 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The business has a 50 day moving average price of $16.29 and a 200-day moving average price of $16.83.

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

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares's payout ratio is 47.69%.

About Huntington Bancshares

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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