Mustard Seed Financial LLC Buys Shares of 57,356 Huntington Bancshares Incorporated $HBAN

Mustard Seed Financial LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 57,356 shares of the bank’s stock, valued at approximately $898,000.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in shares of Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after acquiring an additional 1,366 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after acquiring an additional 35,574 shares during the period. Brown Advisory Inc. grew its position in shares of Huntington Bancshares by 8.3% in the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after purchasing an additional 3,023 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Huntington Bancshares by 6.2% in the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock valued at $3,674,000 after purchasing an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Huntington Bancshares by 6.2% during the 2nd quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock valued at $11,859,000 after purchasing an additional 41,156 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HBAN. Jefferies Financial Group raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Evercore restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 12th. Finally, Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday. One 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.15.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.86 on Friday. The business has a 50-day moving average price of $16.60 and a two-hundred day moving average price of $16.90. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month 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. The firm has a market cap of $36.20 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93.

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

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Insider Transactions at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have bought 33,500 shares of company stock worth $617,542 over the last ninety days. Insiders own 0.67% of the company’s stock.

Huntington Bancshares 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.