Los Angeles Capital Management LLC Invests $1.49 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Los Angeles Capital Management LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 116,722 shares of the bank's stock, valued at approximately $1,485,000.

Other hedge funds also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares in the 4th quarter valued at $29,000. Planned Solutions Inc. acquired a new stake in Huntington Bancshares in the 4th quarter worth about $33,000. Authentikos Wealth Advisory LLC purchased a new stake in Huntington Bancshares in the 3rd quarter valued at about $35,000. Baker Avenue Asset Management LP boosted its position in shares of Huntington Bancshares by 31.8% in the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank's stock worth $42,000 after acquiring an additional 963 shares during the last quarter. Finally, Allworth Financial LP increased its position in Huntington Bancshares by 184.0% during the fourth quarter. Allworth Financial LP now owns 4,007 shares of the bank's stock worth $51,000 after purchasing an additional 2,596 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HBAN. Stephens reaffirmed an "equal weight" rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Royal Bank of Canada increased their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 9th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and lifted their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. Morgan Stanley reissued an "overweight" rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. Finally, Bank of America upgraded Huntington Bancshares from a "neutral" rating to a "buy" rating and increased their target price for the company from $14.00 to $16.00 in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.17.

Insider Activity

In other news, Director Ann B. Crane sold 58,000 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Rajeev Syal sold 11,627 shares of Huntington Bancshares stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the transaction, the vice president now directly owns 329,607 shares of the company's stock, valued at $4,505,727.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann B. Crane sold 58,000 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,092 shares of company stock worth $3,031,731. Company insiders own 0.92% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded up $0.20 during trading hours on Wednesday, reaching $14.05. 15,168,928 shares of the company's stock were exchanged, compared to its average volume of 17,234,988. The business has a fifty day moving average price of $13.48 and a 200-day moving average price of $12.46. The stock has a market capitalization of $20.36 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.55 and a beta of 1.09. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.08.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the prior year, the firm posted $0.38 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Friday, June 14th. Huntington Bancshares's payout ratio is 55.86%.

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.