Evergreen Capital Management LLC Invests $1.94 Million in Huntington Bancshares Incorporated $HBAN

Evergreen Capital Management LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, Holdings Channel reports. The fund acquired 110,575 shares of the bank’s stock, valued at approximately $1,935,000.

Several other institutional investors have also modified their holdings of HBAN. Junto Capital Management LP purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth approximately $85,690,000. Victory Capital Management Inc. lifted its stake in Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after buying an additional 4,640,302 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Huntington Bancshares by 48.0% in the third quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank’s stock valued at $167,119,000 after buying an additional 3,138,669 shares during the last quarter. Millennium Management LLC lifted its stake in Huntington Bancshares by 85.7% in the third quarter. Millennium Management LLC now owns 6,790,019 shares of the bank’s stock valued at $117,264,000 after buying an additional 3,133,208 shares during the last quarter. Finally, Boston Partners lifted its stake in Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HBAN. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday. The Goldman Sachs Group reduced their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Keefe, Bruyette & Woods reduced their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada reduced their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Evercore reduced their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $20.13.

Insider Activity

In related news, Director Gary Torgow acquired 14,200 shares of Huntington Bancshares stock in a transaction on Thursday, February 19th. The stock was purchased at an average cost of $17.81 per share, with a total value of $252,902.00. Following the purchase, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. The trade was a 1.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Rollins III purchased 1,127 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $25.39 per share, with a total value of $28,614.53. Following the completion of the acquisition, the director directly owned 4,000 shares of the company’s stock, valued at $101,560. This represents a 39.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 27,700 shares of company stock worth $540,401 and sold 98,986 shares worth $1,600,958. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Stock Down 0.9%

HBAN opened at $16.82 on Thursday. The business has a 50 day moving average price of $16.34 and a two-hundred day moving average price of $16.72. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The company has a market cap of $34.26 billion, a PE ratio of 12.10, a P/E/G ratio of 0.73 and a beta of 0.95. Huntington Bancshares Incorporated has a 52 week low of $14.07 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

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.