Texas Capital Bank Wealth Management Services Inc Takes $1.02 Million Position in Huntington Bancshares Incorporated $HBAN

Texas Capital Bank Wealth Management Services Inc bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, HoldingsChannel reports. The firm bought 58,722 shares of the bank’s stock, valued at approximately $1,019,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HBAN. Empowered Funds LLC lifted its stake in shares of Huntington Bancshares by 5.0% in the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after purchasing an additional 1,366 shares during the period. Woodline Partners LP lifted its stake in shares of Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after purchasing an additional 35,574 shares during the period. Brown Advisory Inc. lifted its stake in shares of Huntington Bancshares by 8.3% in the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after purchasing an additional 3,023 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Huntington Bancshares by 6.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock valued at $3,674,000 after purchasing an additional 12,865 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Huntington Bancshares by 6.2% in the 2nd quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock valued at $11,859,000 after purchasing an additional 41,156 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares in the company, valued at $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James D. Rollins III purchased 8,471 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was acquired at an average price of $18.01 per share, with a total value of $152,562.71. Following the purchase, the director directly owned 11,500 shares of the company’s stock, valued at approximately $207,115. The trade was a 279.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 18,127 shares of company stock worth $343,888 over the last quarter. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Trading Up 0.6%

NASDAQ HBAN opened at $16.12 on Friday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The stock has a market cap of $32.68 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.74 and a beta of 0.96. The stock’s fifty day moving average price is $16.02 and its 200-day moving average price is $16.77. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.8%. Huntington Bancshares’s payout ratio is currently 47.69%.

Analyst Ratings Changes

HBAN has been the subject of a number of research analyst reports. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, April 23rd. UBS Group set a $21.00 price objective on Huntington Bancshares in a research note on Wednesday, February 4th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research cut their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

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.