Huntington Bancshares Incorporated $HBAN Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 21.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 497,750 shares of the bank’s stock after purchasing an additional 87,750 shares during the period. Gabelli Funds LLC’s holdings in Huntington Bancshares were worth $8,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sagespring Wealth Partners LLC grew its position in shares of Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after buying an additional 587 shares in the last quarter. Rehmann Capital Advisory Group grew its position in shares of Huntington Bancshares by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after buying an additional 694 shares in the last quarter. Glenmede Investment Management LP grew its position in shares of Huntington Bancshares by 1.7% during the third quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank’s stock worth $755,000 after buying an additional 728 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Huntington Bancshares by 2.5% during the third quarter. Advisory Services Network LLC now owns 29,690 shares of the bank’s stock worth $513,000 after buying an additional 737 shares in the last quarter. Finally, Hill Island Financial LLC grew its position in shares of Huntington Bancshares by 3.0% during the fourth quarter. Hill Island Financial LLC now owns 27,377 shares of the bank’s stock worth $475,000 after buying an additional 803 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of research analyst reports. National Bank Financial set a $21.00 price target on Huntington Bancshares in a report on Wednesday, February 4th. Royal Bank Of Canada lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Wolfe Research lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Truist Financial lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 13th. Finally, Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One equities research analyst has 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $15.46 on Wednesday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50 day simple moving average of $15.97 and a 200-day simple moving average of $16.74. The stock has a market capitalization of $31.34 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96.

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

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.0%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III acquired 8,471 shares of the business’s stock in a transaction on Monday, April 27th. The stock was purchased at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the completion of the transaction, the director owned 11,500 shares of the company’s stock, valued at $207,115. The trade was a 279.66% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider owned 83,819 shares of the company’s stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 39,200 shares of company stock worth $756,724. 0.67% of the stock is owned by insiders.

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.