First Trust Direct Indexing L.P. Increases Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

First Trust Direct Indexing L.P. grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 27.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,161 shares of the bank’s stock after purchasing an additional 5,607 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Huntington Bancshares were worth $333,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at $29,000. Planned Solutions Inc. purchased 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 worth about $35,000. Baker Avenue Asset Management LP increased its holdings in Huntington Bancshares by 31.8% in the 3rd 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, Headlands Technologies LLC purchased a new stake in Huntington Bancshares in the 3rd quarter worth about $51,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Up 0.9 %

HBAN opened at $13.92 on Tuesday. The business’s fifty day simple moving average is $13.46 and its 200 day simple moving average is $12.44. Huntington Bancshares Incorporated has a 52 week low of $9.13 and a 52 week high of $14.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock has a market cap of $20.17 billion, a PE ratio of 12.54, a P/E/G ratio of 2.55 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.85 billion for 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 period last year, the firm posted $0.38 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.45%. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In other Huntington Bancshares news, VP Rajeev Syal sold 11,627 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rajeev Syal sold 11,627 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the sale, the vice president now owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,381 shares of company stock valued at $2,814,291. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods lifted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Evercore ISI lifted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

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 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.