Huntington Bancshares Incorporated $HBAN Stock Position Increased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 539,500 shares of the bank’s stock after buying an additional 87,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Huntington Bancshares were worth $9,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth $26,000. South Plains Financial Inc. raised its stake in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares in the last quarter. Accredited Wealth Management LLC raised its position in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth $31,000. Finally, AlphaCore Capital LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth $33,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 3.1%

NASDAQ:HBAN opened at $15.35 on Thursday. The firm has a market capitalization of $31.12 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.73 and a beta of 0.96. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average price is $16.06 and its 200 day moving average price is $16.74.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly 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 analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the previous year, the firm earned $0.34 earnings per share. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III purchased 8,471 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average cost of $18.01 per share, with a total value of $152,562.71. Following the completion of the transaction, the director owned 11,500 shares of the company’s stock, valued at approximately $207,115. This represents a 279.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the transaction, the vice president directly owned 481,676 shares in the company, valued at $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought a total of 39,200 shares of company stock valued at $756,724 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Evercore cut their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Finally, Keefe, Bruyette & Woods cut their target price on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average 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.