Interval Partners LP lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 129.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,420,634 shares of the bank's stock after buying an additional 802,113 shares during the quarter. Interval Partners LP owned about 0.10% of Huntington Bancshares worth $23,114,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Creative Capital Management Investments LLC raised its holdings in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock worth $26,000 after purchasing an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after buying an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $37,000. Transce3nd LLC bought a new position in Huntington Bancshares in the fourth quarter valued at approximately $48,000. Finally, Asset Dedication LLC boosted its stake in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after acquiring an additional 1,260 shares during the last quarter. 80.72% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares 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 sale, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 42,345 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the sale, the insider now directly owns 592,119 shares in the company, valued at $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock valued at $4,464,105 in the last quarter. 0.89% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 21st. Stephens reiterated an "equal weight" rating and issued a $16.50 price objective on shares of Huntington Bancshares in a report on Monday, April 21st. TD Cowen initiated coverage on Huntington Bancshares in a report on Thursday. They set a "buy" rating and a $20.00 target price on the stock. Raymond James restated a "strong-buy" rating and set a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.58.
View Our Latest Research Report on HBAN
Huntington Bancshares Stock Up 0.5%
Shares of NASDAQ:HBAN traded up $0.08 during midday trading on Friday, reaching $16.18. 15,202,319 shares of the company were exchanged, compared to its average volume of 17,705,795. The firm has a market cap of $23.63 billion, a PE ratio of 13.15, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The stock has a fifty day simple moving average of $14.42 and a two-hundred day simple moving average of $15.96. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the business posted $0.27 EPS. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares announced that its board has initiated a share repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.
Huntington Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.83%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.
About Huntington Bancshares
(
Free Report)
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.
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