Catalyst Capital Advisors LLC Buys New Stake in Huntington Bancshares Incorporated $HBAN

Catalyst Capital Advisors LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,813 shares of the bank’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new position in Huntington Bancshares during the second quarter valued at $25,000. Smallwood Wealth Investment Management LLC purchased a new position in Huntington Bancshares in the first quarter valued at $29,000. Quarry LP increased its holdings in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after buying an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Huntington Bancshares in the first quarter valued at $31,000. Finally, Golden State Wealth Management LLC increased its holdings in Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank’s stock valued at $33,000 after buying an additional 1,869 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stephens lifted their price objective on shares of Huntington Bancshares from $18.00 to $19.00 in a report on Friday, October 17th. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. DA Davidson lifted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, October 20th. Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $19.76.

Huntington Bancshares Stock Up 1.3%

Shares of NASDAQ HBAN opened at $16.07 on Monday. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The stock has a market cap of $23.44 billion, a PE ratio of 11.24, a P/E/G ratio of 0.70 and a beta of 0.96. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $17.02 and a 200 day moving average of $16.22.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The company had revenue of $469.00 million during the quarter. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 43.36%.

Huntington Bancshares Profile

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.