JPMorgan Chase & Co. Grows Stock Holdings in Huntington Bancshares Incorporated $HBAN

JPMorgan Chase & Co. grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,238,142 shares of the bank’s stock after purchasing an additional 314,544 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.63% of Huntington Bancshares worth $159,543,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. MTM Investment Management LLC acquired a new position in Huntington Bancshares in the second quarter valued at $25,000. Grey Fox Wealth Advisors LLC purchased a new stake in Huntington Bancshares in the 3rd quarter valued at about $31,000. Catalyst Capital Advisors LLC purchased a new stake in Huntington Bancshares in the 2nd quarter valued at about $30,000. First Horizon Corp acquired a new position in shares of Huntington Bancshares during the 3rd quarter valued at about $36,000. Finally, Root Financial Partners LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $18.01 on Friday. The firm’s fifty day simple moving average is $17.86 and its 200 day simple moving average is $17.04. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45. The firm has a market capitalization of $28.36 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.73 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS 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 analysts’ expectations of $2.21 billion. During the same period last year, the business earned $0.34 earnings per share. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Insider Buying and Selling

In other news, VP Brantley J. Standridge sold 5,830 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total transaction of $111,586.20. Following the sale, the vice president owned 327,676 shares in the company, valued at $6,271,718.64. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares in the company, valued at approximately $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 50,145 shares of company stock valued at $929,885 over the last three months. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Barclays boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Wolfe Research restated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday, January 12th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Huntington Bancshares Company 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.