Northside Capital Management LLC Purchases Shares of 477,774 Huntington Bancshares Incorporated $HBAN

Northside Capital Management LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 477,774 shares of the bank’s stock, valued at approximately $8,289,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in shares of Huntington Bancshares in the second quarter worth about $374,474,000. Junto Capital Management LP purchased a new stake in shares of Huntington Bancshares in the third quarter worth about $85,690,000. Victory Capital Management Inc. boosted its stake in Huntington Bancshares by 15.7% during the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after buying an additional 4,640,302 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Huntington Bancshares by 1,700.0% during the second quarter. Fisher Asset Management LLC now owns 3,351,087 shares of the bank’s stock valued at $56,164,000 after buying an additional 3,164,915 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Huntington Bancshares by 48.0% during the 3rd quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank’s stock valued at $167,119,000 after buying an additional 3,138,669 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 17,455 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the sale, the vice president owned 42,398 shares of the company’s stock, valued at approximately $802,594.14. This represents a 29.16% decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the sale, the vice president owned 481,676 shares of the company’s stock, valued at $7,360,009.28. This trade represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have purchased 27,700 shares of company stock valued at $540,401 and have sold 108,986 shares valued at $1,785,958. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HBAN shares. Keefe, Bruyette & Woods reduced their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research note on Friday, January 23rd. JPMorgan Chase & Co. increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 6th. Piper Sandler upped their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, January 22nd. Finally, DA Davidson decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.63.

Huntington Bancshares Trading Down 0.5%

Shares of HBAN stock opened at $15.09 on Friday. The company has a market cap of $30.74 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The stock’s 50 day simple moving average is $17.23 and its two-hundred day simple moving average is $16.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results 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 $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the firm posted $0.34 EPS. Research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s payout ratio is presently 44.60%.

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.