Y Intercept Hong Kong Ltd Buys 658,269 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Y Intercept Hong Kong Ltd increased its Huntington Bancshares stake by 479.8% in the fourth quarter, buying 658,269 additional shares and bringing its total holding to 795,470 shares worth about $13.8 million.
• Huntington Bancshares has seen continued activity from both institutions and insiders, including director James D. Rollins III purchasing 11,127 shares at $16.50 each; institutional investors now own about 80.72% of the stock.
• The bank reported better-than-expected first-quarter earnings of $0.37 per share versus a $0.16 estimate and recently declared a quarterly dividend of $0.155 per share, implying an annual yield of about 3.5%.

Y Intercept Hong Kong Ltd boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 479.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 795,470 shares of the bank's stock after acquiring an additional 658,269 shares during the period. Y Intercept Hong Kong Ltd owned 0.05% of Huntington Bancshares worth $13,801,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new stake in Huntington Bancshares in the third quarter valued at approximately $26,000. South Plains Financial Inc. boosted its holdings in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock valued at $27,000 after acquiring an additional 826 shares during the last quarter. Accredited Wealth Management LLC boosted its holdings in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock valued at $29,000 after acquiring an additional 1,322 shares during the last quarter. AlphaCore Capital LLC bought a new stake in Huntington Bancshares in the third quarter valued at approximately $33,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in Huntington Bancshares by 403.1% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank's stock valued at $45,000 after acquiring an additional 2,092 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on HBAN shares. Royal Bank Of Canada reduced their target price on Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Wall Street Zen upgraded Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Evercore reiterated an "outperform" rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Friday. Finally, DA Davidson cut their price target on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, March 16th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $20.10.

Insider Buying and Selling at Huntington Bancshares

In other news, Director James D. Rollins III bought 11,127 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average cost of $16.50 per share, with a total value of $183,595.50. Following the completion of the transaction, the director directly owned 11,127 shares of the company's stock, valued at $183,595.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 33,500 shares of company stock worth $617,542 over the last quarter. 0.67% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.52 on Friday. The stock has a market capitalization of $35.52 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.78 and a beta of 0.94. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The stock's 50 day moving average price is $16.29 and its two-hundred day moving average price is $16.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping 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 company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares's dividend payout ratio is presently 47.69%.

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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