Fifth Third Bancorp Purchases 503,604 Shares of Huntington Bancshares Incorporated $HBAN

Fifth Third Bancorp lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 500.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 604,166 shares of the bank’s stock after purchasing an additional 503,604 shares during the period. Fifth Third Bancorp’s holdings in Huntington Bancshares were worth $9,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Simplicity Wealth LLC increased its stake in Huntington Bancshares by 24.7% in the 1st quarter. Simplicity Wealth LLC now owns 14,807 shares of the bank’s stock worth $232,000 after buying an additional 2,935 shares in the last quarter. Candriam S.C.A. boosted its stake in shares of Huntington Bancshares by 7.4% in the first quarter. Candriam S.C.A. now owns 173,268 shares of the bank’s stock worth $2,712,000 after acquiring an additional 11,887 shares during the period. Torren Management LLC grew its position in shares of Huntington Bancshares by 101.9% during the first quarter. Torren Management LLC now owns 7,249 shares of the bank’s stock worth $113,000 after purchasing an additional 3,658 shares in the last quarter. Elevated Capital Advisors LLC grew its position in shares of Huntington Bancshares by 8.3% during the first quarter. Elevated Capital Advisors LLC now owns 56,444 shares of the bank’s stock worth $883,000 after purchasing an additional 4,321 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its stake in Huntington Bancshares by 7.1% during the 1st quarter. Kestra Advisory Services LLC now owns 715,431 shares of the bank’s stock valued at $11,196,000 after purchasing an additional 47,314 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Transactions at Huntington Bancshares

In related news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction dated 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 completion of the transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders bought 33,500 shares of company stock worth $617,542. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on HBAN. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Jefferies Financial Group cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating and reduced their price objective for the company from $21.00 to $19.00 in a research report on Monday, July 6th. Stephens assumed coverage on shares of Huntington Bancshares in a report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 target price on the stock. Morgan Stanley upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $18.12 on Thursday. The company has a market cap of $36.73 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.80 and a beta of 0.93. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The stock’s 50 day simple moving average is $16.81 and its two-hundred day simple moving average is $16.91. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its 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. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the company earned $0.34 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed 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 dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 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.