Interval Partners LP Buys Shares of 662,578 Huntington Bancshares Incorporated $HBAN

Interval Partners LP bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 662,578 shares of the bank’s stock, valued at approximately $11,496,000.

Several other hedge funds have also recently made changes to their positions in HBAN. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares in the third quarter valued at $26,000. South Plains Financial Inc. raised 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 buying an additional 826 shares during the period. Centennial Bank AR bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at $28,000. Accredited Wealth Management LLC raised 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 buying an additional 1,322 shares during the period. Finally, AlphaCore Capital LLC bought a new stake in shares of Huntington Bancshares in the third quarter valued at $33,000. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.85 on Thursday. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The business has a 50-day simple moving average of $16.37 and a 200 day simple moving average of $16.86. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a market cap of $34.16 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.79 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last posted its 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 period in the previous year, the business earned $0.34 earnings per share. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.61 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, July 1st. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HBAN. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Friday, June 12th. Finally, Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

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.