Allstate Corp Increases Stock Position in Huntington Bancshares Incorporated $HBAN

Allstate Corp raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 129.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 113,669 shares of the bank’s stock after purchasing an additional 64,224 shares during the quarter. Allstate Corp’s holdings in Huntington Bancshares were worth $1,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares during the period. Boston Partners lifted its position in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares during the period. Invesco Ltd. lifted its position in shares of Huntington Bancshares by 1.5% during the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after acquiring an additional 861,263 shares during the period. Victory Capital Management Inc. lifted its position in shares of Huntington Bancshares by 15.7% during the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after acquiring an additional 4,640,302 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Huntington Bancshares by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 17,163,265 shares of the bank’s stock valued at $296,414,000 after acquiring an additional 123,447 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction on 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 directly owned 481,676 shares in the company, valued at $7,360,009.28. This represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the sale, the insider owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 18,127 shares of company stock worth $343,888 in the last ninety days. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HBAN shares. Evercore reduced their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada cut their price objective 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, The Goldman Sachs Group cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 6th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Trading Up 0.6%

Shares of HBAN opened at $16.12 on Friday. The stock has a fifty day moving average of $16.02 and a two-hundred day moving average of $16.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $32.68 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued 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 company 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 period in the previous year, the firm posted $0.34 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s payout ratio is 47.69%.

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.