Huntington Bancshares Incorporated $HBAN Stock Purchased by Investment Partners LTD.

Investment Partners LTD. raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 125.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 123,165 shares of the bank’s stock after buying an additional 68,606 shares during the quarter. Investment Partners LTD.’s holdings in Huntington Bancshares were worth $1,880,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Corient Private Wealth LP purchased a new stake in shares of Huntington Bancshares in the 2nd quarter valued at $21,187,000. Equitable Holdings Inc. purchased a new stake in shares of Huntington Bancshares during the second quarter worth $1,093,000. Bank of America Corp DE purchased a new position in Huntington Bancshares during the second quarter worth approximately $256,772,000. Community Trust & Investment Co. purchased a new position in Huntington Bancshares during the third quarter worth about $3,131,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after purchasing an additional 1,652,464 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HBAN. Zacks Research lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Jefferies Financial Group cut their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Thursday, September 24th. Truist Financial reduced their target price on Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. DA Davidson decreased their target price on Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Finally, Keefe, Bruyette & Woods dropped their price target on Huntington Bancshares from $19.50 to $18.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.98.

Insider Transactions at Huntington Bancshares

In other news, Director James D. Rollins III purchased 14,000 shares of the stock in a transaction on Monday, October 26th. The stock was purchased at an average price of $18.12 per share, with a total value of $253,680.00. Following the completion of the transaction, the director owned 15,500 shares in the company, valued at approximately $280,860. The trade was a 933.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kendall A. Kowalski sold 27,971 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the sale, the insider directly owned 70,025 shares of the company’s stock, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $15.78 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $31.88 billion, a P/E ratio of 13.04, a PEG ratio of 1.01 and a beta of 0.95. Huntington Bancshares Incorporated has a 1 year low of $14.82 and a 1 year high of $19.45. The stock’s 50 day moving average price is $15.96 and its 200 day moving average price is $16.70.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same quarter last year, the business posted $0.41 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be paid a $0.1550 dividend. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 51.24%.

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 banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.