Huntington Bancshares Incorporated $HBAN Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 580,541 shares of the bank’s stock after buying an additional 32,442 shares during the quarter. Carnegie Investment Counsel’s holdings in Huntington Bancshares were worth $9,085,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. MV Capital Management Inc. purchased a new stake in Huntington Bancshares in the 4th quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares in the third quarter valued at about $26,000. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth about $28,000. DV Equities LLC acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth about $38,000. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of 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 buying an additional 2,092 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.87 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $36.22 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The stock’s fifty day simple moving average is $16.73 and its 200-day simple moving average is $16.90.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 33,500 shares of company stock worth $617,542. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HBAN. Stephens initiated coverage on Huntington Bancshares in a research note on Monday, June 15th. They set an “equal weight” rating and a $19.00 price objective for the company. Morgan Stanley increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Wolfe Research 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 Wednesday, April 1st. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Evercore reiterated an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.25.

About Huntington Bancshares

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.