Graver Capital Management LLC Makes New $285,000 Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Graver Capital Management LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,534 shares of the bank's stock, valued at approximately $285,000. Huntington Bancshares makes up about 0.3% of Graver Capital Management LLC's portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC increased its stake in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after buying an additional 1,578 shares during the period. Y.D. More Investments Ltd boosted its stake in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after acquiring an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares during the 4th quarter valued at about $37,000. Transce3nd LLC acquired a new stake in Huntington Bancshares in the 4th quarter worth approximately $48,000. Finally, Asset Dedication LLC grew its holdings in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after purchasing an additional 1,260 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Trading Down 0.2%

Shares of HBAN stock traded down $0.04 on Thursday, hitting $16.06. The company had a trading volume of 13,118,406 shares, compared to its average volume of 17,660,804. The stock's 50-day moving average is $14.39 and its two-hundred day moving average is $15.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $23.45 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period last year, the company posted $0.27 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares announced that its Board of Directors has initiated a share buyback program on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, 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 3.86%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider now owns 592,119 shares of the company's stock, valued at approximately $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares of the company's stock, valued at $6,647,402.43. The trade was a 13.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,456 shares of company stock valued at $4,464,105 in the last 90 days. Insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HBAN shares. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target on the stock in a research report on Thursday, April 24th. Citigroup decreased their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Royal Bank of Canada decreased their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Truist Financial decreased their target price on Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $17.58.

Huntington Bancshares 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.