Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Position Raised by Covestor Ltd

Covestor Ltd increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 30.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,173 shares of the bank’s stock after acquiring an additional 1,443 shares during the quarter. Covestor Ltd’s holdings in Huntington Bancshares were worth $91,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Dedication LLC increased its stake in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new position in shares of Huntington Bancshares in the third quarter worth approximately $29,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC acquired a new position in Huntington Bancshares in the 3rd quarter worth approximately $32,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.54 on Thursday. The firm has a market cap of $25.48 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 3.58 and a beta of 1.03. The stock’s 50-day moving average is $15.26 and its two-hundred day moving average is $14.27. Huntington Bancshares Incorporated has a fifty-two week low of $10.55 and a fifty-two week high of $17.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.53%. Huntington Bancshares’s payout ratio is presently 59.62%.

Wall Street Analyst Weigh In

Several analysts have issued reports on HBAN shares. DA Davidson boosted their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Argus increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley raised their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Friday, July 26th. Finally, Evercore ISI boosted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.09.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.