Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 294,410 shares of the bank’s stock after purchasing an additional 7,307 shares during the period. HighTower Advisors LLC’s holdings in Huntington Bancshares were worth $4,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CI Investments Inc. increased its position in Huntington Bancshares by 994.3% in the 3rd quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,730 shares during the period. Archer Investment Corp acquired a new position in Huntington Bancshares in the 4th quarter valued at about $27,000. Retirement Financial Solutions LLC acquired a new position in Huntington Bancshares in the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its position in Huntington Bancshares by 149.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock worth $34,000 after purchasing an additional 1,543 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Huntington Bancshares during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, Director Kenneth J. Phelan purchased 20,000 shares of Huntington Bancshares stock in a transaction on Wednesday, April 26th. The shares were bought at an average price of $10.80 per share, with a total value of $216,000.00. Following the purchase, the director now directly owns 89,285 shares in the company, valued at approximately $964,278. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Huntington Bancshares news, Director Kenneth J. Phelan purchased 20,000 shares of Huntington Bancshares stock in a transaction on Wednesday, April 26th. The shares were bought at an average price of $10.80 per share, with a total value of $216,000.00. Following the purchase, the director now directly owns 89,285 shares in the company, valued at approximately $964,278. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 98,608 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $10.25, for a total value of $1,010,732.00. Following the transaction, the chief financial officer now directly owns 188,767 shares in the company, valued at approximately $1,934,861.75. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HBAN shares. UBS Group cut Huntington Bancshares from a “buy” rating to a “neutral” rating in a research report on Monday, April 10th. The Goldman Sachs Group dropped their target price on Huntington Bancshares from $16.50 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, March 30th. Keefe, Bruyette & Woods upgraded Huntington Bancshares from an “underperform” rating to a “market perform” rating and dropped their target price for the stock from $13.50 to $13.00 in a research report on Wednesday, April 5th. Morgan Stanley dropped their target price on Huntington Bancshares from $18.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Finally, Royal Bank of Canada dropped their target price on Huntington Bancshares from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, April 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.83.

Huntington Bancshares Price Performance

HBAN stock opened at $10.17 on Friday. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $15.74. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day moving average price is $10.76 and its 200 day moving average price is $13.37. The firm has a market cap of $14.68 billion, a P/E ratio of 6.56, a PEG ratio of 5.41 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last posted its earnings results on Thursday, April 20th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Huntington Bancshares had a return on equity of 15.33% and a net margin of 27.06%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the company earned $0.32 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.44 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Monday, June 19th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Thursday, June 15th. Huntington Bancshares’s dividend payout ratio is presently 40.00%.

Huntington Bancshares Company Profile

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.