Randolph Co Inc Increases Stock Position in Huntington Bancshares Incorporated $HBAN

Randolph Co Inc boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,859,636 shares of the bank’s stock after acquiring an additional 39,405 shares during the quarter. Huntington Bancshares makes up 3.1% of Randolph Co Inc’s investment portfolio, making the stock its 16th biggest position. Randolph Co Inc’s holdings in Huntington Bancshares were worth $32,265,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new position in Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. boosted its stake in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the period. Accredited Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Huntington Bancshares in the third quarter valued at approximately $33,000. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Huntington Bancshares by 403.1% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after purchasing an additional 2,092 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 3.8%

Shares of NASDAQ:HBAN opened at $16.53 on Friday. The firm’s 50 day moving average price is $16.12 and its 200 day moving average price is $16.78. The stock has a market cap of $33.51 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.72 and a beta of 0.94. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter last year, the company earned $0.34 earnings per share. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.61 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 Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Insider Activity at Huntington Bancshares

In related news, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the sale, the insider owned 83,819 shares of the company’s stock, valued at $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James D. Rollins III bought 4,798 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $20.30 per share, for a total transaction of $97,399.40. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at $203,000. This represents a 92.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 34,627 shares of company stock valued at $646,157 over the last 90 days. 0.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Royal Bank Of Canada lowered their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Wolfe Research lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, DA Davidson lowered their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

About Huntington Bancshares

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.