GAMMA Investing LLC Purchases Shares of 9,867 Huntington Bancshares Incorporated (NASDAQ:HBAN)

GAMMA Investing LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,867 shares of the bank’s stock, valued at approximately $126,000.

Several other hedge funds also recently added to or reduced their stakes in HBAN. Blue Trust Inc. grew its position in shares of Huntington Bancshares by 12.0% during the fourth quarter. Blue Trust Inc. now owns 8,460 shares of the bank’s stock worth $108,000 after acquiring an additional 904 shares during the last quarter. Baker Avenue Asset Management LP grew its position in shares of Huntington Bancshares by 31.8% during the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after acquiring an additional 963 shares during the last quarter. Ausdal Financial Partners Inc. grew its position in shares of Huntington Bancshares by 8.9% during the third quarter. Ausdal Financial Partners Inc. now owns 12,217 shares of the bank’s stock worth $127,000 after acquiring an additional 1,000 shares during the last quarter. Quantum Private Wealth LLC grew its position in shares of Huntington Bancshares by 3.5% during the fourth quarter. Quantum Private Wealth LLC now owns 29,825 shares of the bank’s stock worth $379,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KRS Capital Management LLC grew its position in shares of Huntington Bancshares by 4.3% during the fourth quarter. KRS Capital Management LLC now owns 24,614 shares of the bank’s stock worth $313,000 after acquiring an additional 1,022 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HBAN. Royal Bank of Canada raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $15.00 in a report on Wednesday, February 14th. Finally, Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Insider Activity

In other news, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the transaction, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 28,700 shares of Huntington Bancshares stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the sale, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Insiders sold a total of 198,189 shares of company stock worth $2,664,978 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Trading Down 0.2 %

Shares of HBAN stock opened at $13.55 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.07. The stock has a market cap of $19.62 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.50 and a beta of 1.11. The business has a fifty day simple moving average of $13.36 and a 200-day simple moving average of $12.27. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the business posted $0.38 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Huntington Bancshares Company 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.