PNC Financial Services Group Inc. Has $9.24 Million Holdings in Huntington Bancshares Incorporated $HBAN

PNC Financial Services Group Inc. raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 535,074 shares of the bank’s stock after buying an additional 33,420 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Huntington Bancshares were worth $9,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. LifeWealth Investments LLC boosted its stake in Huntington Bancshares by 2.3% during the 2nd quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after acquiring an additional 632 shares during the last quarter. Parcion Private Wealth LLC boosted its position in shares of Huntington Bancshares by 6.2% during the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after purchasing an additional 648 shares in the last quarter. Strategic Planning Inc. grew its holdings in shares of Huntington Bancshares by 0.3% in the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after buying an additional 670 shares during the period. Benjamin Edwards Inc. increased its position in shares of Huntington Bancshares by 1.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank’s stock valued at $1,263,000 after buying an additional 758 shares in the last quarter. Finally, Wedmont Private Capital raised its stake in Huntington Bancshares by 3.1% during the 3rd quarter. Wedmont Private Capital now owns 27,294 shares of the bank’s stock worth $457,000 after buying an additional 808 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Trading Up 2.4%

Shares of NASDAQ:HBAN opened at $17.89 on Thursday. The company’s 50-day moving average price is $17.86 and its two-hundred day moving average price is $17.02. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of $28.17 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.70 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned $0.34 EPS. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of research analyst reports. Evercore started coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 target price for the company. Piper Sandler increased their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, January 22nd. Argus raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Wolfe Research reiterated an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, January 7th. Finally, Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Insider Buying and Selling

In other news, VP Brantley J. Standridge sold 5,830 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total transaction of $111,586.20. Following the transaction, the vice president directly owned 327,676 shares in the company, valued at $6,271,718.64. The trade was a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marcy C. Hingst sold 12,832 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $18.00, for a total transaction of $230,976.00. Following the completion of the sale, the executive vice president directly owned 239,473 shares in the company, valued at approximately $4,310,514. The trade was a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,732 shares of company stock worth $1,923,233 in the last quarter. 0.89% of the stock is owned by company insiders.

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.