Huntington Bancshares Incorporated $HBAN Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 631.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 81,374 shares of the bank’s stock after acquiring an additional 70,246 shares during the period. AlphaQuest LLC’s holdings in Huntington Bancshares were worth $1,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. increased its stake in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the last quarter. Accredited Wealth Management LLC increased its stake in 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 acquiring an additional 1,322 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in Huntington Bancshares during the third quarter worth about $33,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in Huntington Bancshares by 403.1% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after acquiring an additional 2,092 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 65,530 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares of the company’s stock, valued at approximately $7,360,009.28. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Prashant Nateri sold 10,171 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at $1,299,194.50. This represents a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 25,000 shares of company stock valued at $503,822. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on HBAN shares. The Goldman Sachs Group dropped their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. National Bank Financial set a $21.00 target price on Huntington Bancshares in a research report on Wednesday, February 4th. Royal Bank Of Canada decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Evercore decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. One equities 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $16.03 on Thursday. The company has a market capitalization of $32.49 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.74 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 debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50-day moving average of $16.01 and a 200-day moving average of $16.77.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the business posted $0.34 earnings per share. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS 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 issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

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.