Huntington Bancshares Incorporated $HBAN Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 47.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,506 shares of the bank’s stock after acquiring an additional 64,495 shares during the period. NEOS Investment Management LLC’s holdings in Huntington Bancshares were worth $3,480,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HBAN. MTM Investment Management LLC acquired a new stake in Huntington Bancshares in the second quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new position in Huntington Bancshares in the third quarter worth $31,000. Catalyst Capital Advisors LLC bought a new position in Huntington Bancshares in the second quarter worth about $30,000. First Horizon Corp acquired a new position in Huntington Bancshares in the third quarter valued at approximately $36,000. Finally, Root Financial Partners LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at approximately $44,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.85 on Friday. The company has a market cap of $28.11 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.72 and a beta of 0.96. The company has a fifty day simple moving average of $17.86 and a 200 day simple moving average of $17.03. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the previous year, the business posted $0.34 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is 44.60%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HBAN. Morgan Stanley lowered their price target on Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Wolfe Research reissued an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, January 7th. Evercore assumed coverage on shares of Huntington Bancshares in a report on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 target price for the company. DA Davidson reaffirmed a “buy” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, October 28th. Finally, Piper Sandler upped their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Insider Activity

In other Huntington Bancshares news, VP Brantley J. Standridge sold 5,830 shares of Huntington Bancshares stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the transaction, the vice president directly owned 327,676 shares of the company’s stock, valued at approximately $6,271,718.64. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 2,481 shares of Huntington Bancshares stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the transaction, the insider directly owned 71,566 shares of the company’s stock, valued at $1,273,874.80. This represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 50,145 shares of company stock valued at $929,885. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.