Huntington Bancshares Incorporated $HBAN Position Boosted by StoneX Group Inc.

StoneX Group Inc. grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1,239.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,848 shares of the bank’s stock after purchasing an additional 149,765 shares during the quarter. StoneX Group Inc.’s holdings in Huntington Bancshares were worth $2,493,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new position in shares of Huntington Bancshares in the second quarter valued at approximately $21,187,000. Equitable Holdings Inc. acquired a new position in Huntington Bancshares during the second quarter valued at approximately $1,093,000. Bank of America Corp DE bought a new position in shares of Huntington Bancshares in the second quarter valued at $256,772,000. Community Trust & Investment Co. acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $3,131,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Huntington Bancshares in the second quarter valued at approximately $16,579,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $15.47 on Monday. Huntington Bancshares Incorporated has a 1 year low of $14.82 and a 1 year high of $19.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $31.26 billion, a PE ratio of 12.79, a P/E/G ratio of 1.00 and a beta of 0.97. The company’s 50 day simple moving average is $15.84 and its two-hundred day simple moving average is $16.65.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. During the same period in the previous year, the business earned $0.41 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.54 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, January 4th. Investors of record on Friday, December 18th will be given a $0.1550 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 51.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HBAN shares. TD Cowen initiated coverage on shares of Huntington Bancshares in a research note on Thursday, October 8th. They set a “buy” rating and a $18.00 target price for the company. Morgan Stanley cut shares of Huntington Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $21.00 to $19.00 in a research report on Friday, July 24th. Wells Fargo & Company decreased their price target on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. Jefferies Financial Group dropped their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. Finally, Citigroup dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Insider Buying and Selling

In other Huntington Bancshares news, Director Gary Torgow acquired 12,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was bought at an average price of $15.73 per share, with a total value of $199,771.00. Following the completion of the purchase, the director owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Donnell White sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $15.87, for a total value of $47,610.00. Following the transaction, the senior vice president owned 23,697 shares of the company’s stock, valued at approximately $376,071.39. The trade was a 11.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus.

Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.