Cardinal Capital Management Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cardinal Capital Management increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,754 shares of the bank’s stock after purchasing an additional 2,194 shares during the quarter. Cardinal Capital Management’s holdings in Huntington Bancshares were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HBAN. American Century Companies Inc. increased its stake in Huntington Bancshares by 11.8% in the 1st quarter. American Century Companies Inc. now owns 189,174 shares of the bank’s stock worth $2,765,000 after purchasing an additional 19,959 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Huntington Bancshares in the first quarter valued at about $315,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Huntington Bancshares by 309.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,001 shares of the bank’s stock worth $146,000 after purchasing an additional 7,558 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Huntington Bancshares by 40.9% in the first quarter. Panagora Asset Management Inc. now owns 104,361 shares of the bank’s stock worth $1,526,000 after purchasing an additional 30,296 shares during the last quarter. Finally, Aviva PLC increased its holdings in Huntington Bancshares by 58.2% during the 1st quarter. Aviva PLC now owns 798,754 shares of the bank’s stock valued at $11,678,000 after purchasing an additional 293,944 shares during the period. 78.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HBAN. The Goldman Sachs Group boosted their target price on Huntington Bancshares from $12.00 to $13.50 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Piper Sandler reduced their price target on shares of Huntington Bancshares from $12.50 to $12.00 and set a “neutral” rating on the stock in a research report on Friday. DA Davidson upped their target price on Huntington Bancshares from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of Huntington Bancshares in a research note on Tuesday, July 25th. Finally, Raymond James raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.13.

Huntington Bancshares Trading Down 1.0 %

NASDAQ:HBAN opened at $10.59 on Tuesday. Huntington Bancshares Incorporated has a 52 week low of $9.13 and a 52 week high of $15.74. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 5.94 and a beta of 1.08. The company’s 50 day moving average price is $11.42 and its 200-day moving average price is $11.14. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 15.20% and a net margin of 24.74%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 5.85%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 40.00%.

Insiders Place Their Bets

In other news, EVP Paul G. Heller sold 23,817 shares of the firm’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 transaction, the executive vice president now directly owns 505,910 shares in the company, valued at approximately $6,015,269.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Huntington Bancshares news, insider Helga Houston sold 12,280 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $11.97, for a total transaction of $146,991.60. Following the completion of the sale, the insider now directly owns 594,564 shares of the company’s stock, valued at approximately $7,116,931.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul G. Heller sold 23,817 shares of Huntington Bancshares stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total transaction of $283,184.13. Following the completion of the sale, the executive vice president now owns 505,910 shares in the company, valued at $6,015,269.90. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by 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).