Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,828,775 shares of the bank's stock after acquiring an additional 2,003,683 shares during the quarter. Victory Capital Management Inc. owned 1.63% of Huntington Bancshares worth $357,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Smallwood Wealth Investment Management LLC purchased a new position in Huntington Bancshares in the first quarter valued at $29,000. LFA Lugano Financial Advisors SA acquired a new position in Huntington Bancshares in the first quarter valued at $31,000. Golden State Wealth Management LLC boosted its stake in Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Huntington Bancshares in the first quarter valued at $39,000. Finally, TruNorth Capital Management LLC acquired a new position in Huntington Bancshares in the first quarter valued at $40,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock traded down $0.40 during mid-day trading on Friday, reaching $16.59. The company had a trading volume of 21,265,991 shares, compared to its average volume of 19,601,975. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $24.23 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.24 and a beta of 0.93. The stock's 50-day simple moving average is $16.25 and its 200-day simple moving average is $15.72.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Friday, July 18th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.04). Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the business posted $0.30 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is presently 47.33%.

Huntington Bancshares declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HBAN. Cowen began coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price for the company in a research note on Thursday, April 24th. Truist Financial increased their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. decreased their target price on shares of 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, Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.48.

Insider Activity at Huntington Bancshares

In other news, insider Helga Houston sold 42,345 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the sale, the insider directly owned 592,119 shares of the company's stock, valued at $8,715,991.68. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the sale, the vice president directly owned 326,456 shares of the company's stock, valued at $4,469,182.64. This represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,375 shares of company stock worth $3,049,277. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Company 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.