211,746 Shares in Huntington Bancshares Incorporated $HBAN Purchased by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 211,746 shares of the bank’s stock, valued at approximately $3,314,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HBAN. MV Capital Management Inc. acquired a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Huntington Bancshares during the 3rd quarter worth $26,000. South Plains Financial Inc. boosted its position in Huntington Bancshares by 116.3% during the 3rd 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 period. Centennial Bank AR acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at $28,000. Finally, Accredited Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders bought 33,500 shares of company stock valued at $617,542. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

HBAN has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Morgan Stanley dropped their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Wolfe Research dropped their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Finally, DA Davidson lowered their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Trading Down 0.6%

Huntington Bancshares stock opened at $17.79 on Friday. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. 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 firm has a market capitalization of $36.06 billion, a PE ratio of 13.68, a PEG ratio of 0.81 and a beta of 0.94. The business’s 50-day simple moving average is $16.50 and its 200-day simple moving average is $16.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the business posted $0.34 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 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.