SageView Advisory Group LLC Acquires New Holdings in Huntington Bancshares Incorporated $HBAN

SageView Advisory Group LLC acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, Holdings Channel reports. The fund acquired 125,247 shares of the bank’s stock, valued at approximately $2,163,000.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in Huntington Bancshares during the 2nd quarter valued at $374,474,000. Victory Capital Management Inc. raised its position in shares of Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after acquiring an additional 4,640,302 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Huntington Bancshares by 1,700.0% during the 2nd quarter. Fisher Asset Management LLC now owns 3,351,087 shares of the bank’s stock worth $56,164,000 after purchasing an additional 3,164,915 shares during the last quarter. Jefferies Financial Group Inc. boosted its position in Huntington Bancshares by 14,950.0% during the second quarter. Jefferies Financial Group Inc. now owns 3,004,729 shares of the bank’s stock valued at $50,359,000 after purchasing an additional 2,984,764 shares in the last quarter. Finally, Boston Partners boosted its position in Huntington Bancshares by 4.8% during the second quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock valued at $1,020,382,000 after purchasing an additional 2,776,429 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Wolfe Research restated an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, January 7th. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Truist Financial increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.78.

Insider Activity

In related news, insider Amit Dhingra sold 10,000 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider directly owned 155,634 shares of the company’s stock, valued at $2,879,229. This represents a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Torgow bought 14,200 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average price 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 $16,800,903.21. The trade was a 1.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 27,700 shares of company stock valued at $540,401 and sold 35,766 shares valued at $671,171. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $15.64 on Thursday. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $31.75 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.65 and a beta of 0.95. The stock’s 50-day simple moving average is $17.61 and its 200-day simple moving average is $17.06.

Huntington Bancshares (NASDAQ:HBAN) last announced 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 during 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 previous year, the business earned $0.34 earnings per share. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s payout ratio is presently 44.60%.

Huntington Bancshares Company 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.