Paragon Capital Management Ltd boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 51.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,341 shares of the bank’s stock after buying an additional 7,970 shares during the quarter. Paragon Capital Management Ltd’s holdings in Huntington Bancshares were worth $252,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in HBAN. Norges Bank bought a new stake in Huntington Bancshares in the fourth quarter valued at approximately $216,049,000. First Trust Advisors LP increased its position in shares of Huntington Bancshares by 359.4% during the first quarter. First Trust Advisors LP now owns 18,947,586 shares of the bank’s stock worth $212,213,000 after buying an additional 14,823,508 shares during the period. Federated Hermes Inc. raised its stake in Huntington Bancshares by 28.8% during the first quarter. Federated Hermes Inc. now owns 29,195,530 shares of the bank’s stock worth $326,990,000 after buying an additional 6,523,848 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Huntington Bancshares by 2,536.9% in the first quarter. Schonfeld Strategic Advisors LLC now owns 5,936,016 shares of the bank’s stock valued at $66,483,000 after buying an additional 5,710,903 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Huntington Bancshares by 5.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,907,624 shares of the bank’s stock valued at $1,070,297,000 after acquiring an additional 3,618,731 shares during the last quarter. Institutional investors own 78.68% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on HBAN. Morgan Stanley reissued an “overweight” rating and issued a $12.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, July 25th. Stephens increased their price target on Huntington Bancshares from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. DA Davidson lifted their price objective on shares of Huntington Bancshares from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of Huntington Bancshares in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Piper Sandler dropped their price objective on shares of Huntington Bancshares from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.13.
Huntington Bancshares Stock Performance
NASDAQ:HBAN remained flat at $10.70 on Friday. 23,889,617 shares of the company’s stock traded hands, compared to its average volume of 16,252,731. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $15.74. The firm’s 50-day simple moving average is $11.42 and its two-hundred day simple moving average is $11.20. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.90. The firm has a market cap of $15.49 billion, a PE ratio of 6.90, a P/E/G ratio of 5.91 and a beta of 1.08.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Huntington Bancshares had a return on equity of 15.20% and a net margin of 24.74%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $0.36 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.38 EPS for the current year.
Huntington Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 40.00%.
Insider Activity at Huntington Bancshares
In other Huntington Bancshares news, EVP Paul G. Heller sold 23,817 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total value of $283,184.13. Following the transaction, the executive vice president now directly owns 505,910 shares in the company, valued at $6,015,269.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Huntington Bancshares news, EVP Paul G. Heller sold 23,817 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $11.89, for a total value of $283,184.13. Following the sale, the executive vice president now directly owns 505,910 shares in the company, valued at $6,015,269.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Helga Houston sold 12,280 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total value of $146,991.60. Following the transaction, the insider now owns 594,564 shares of the company’s stock, valued at approximately $7,116,931.08. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.
Huntington Bancshares Company 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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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