Arbor Investment Advisors LLC Purchases New Position in Huntington Bancshares Incorporated $HBAN

Arbor Investment Advisors LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, HoldingsChannel reports. The fund purchased 132,157 shares of the bank’s stock, valued at approximately $2,068,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. purchased a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $26,000. South Plains Financial Inc. lifted its stake in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the period. Centennial Bank AR purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $28,000. Finally, DV Equities LLC bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $38,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $17.86 on Monday. 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 cap of $36.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The firm has a 50-day simple moving average of $16.60 and a two-hundred day simple moving average of $16.90.

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

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HBAN. Morgan Stanley upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a report on Thursday, April 23rd. The Goldman Sachs Group reduced 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, April 6th. Finally, Stephens initiated coverage on shares of Huntington Bancshares in a research note on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price target for the company. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.15.

Insider Activity at Huntington Bancshares

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

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.