223,114 Shares in Huntington Bancshares Incorporated $HBAN Purchased by Balefire LLC

Balefire LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 223,114 shares of the bank’s stock, valued at approximately $3,492,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HBAN. CIBC Asset Management Inc boosted its holdings in shares of Huntington Bancshares by 24.5% in the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after purchasing an additional 104,965 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Huntington Bancshares by 688.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after buying an additional 75,516 shares during the last quarter. KBC Group NV raised its position in shares of Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after buying an additional 395,489 shares during the period. Hsbc Holdings PLC raised its position in shares of Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock worth $141,625,000 after buying an additional 1,652,464 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Huntington Bancshares by 991.7% in the first quarter. International Assets Investment Management LLC now owns 67,588 shares of the bank’s stock valued at $1,073,000 after acquiring an additional 61,397 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HBAN shares. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. UBS Group lifted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Stephens assumed coverage on Huntington Bancshares in a report on Monday, June 15th. They set an “equal weight” rating and a $19.00 target price for the company. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research report on Thursday, April 23rd. Finally, Wolfe Research cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned 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 $20.25.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $18.25 on Monday. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The company has a market capitalization of $37.00 billion, a PE ratio of 14.04, a P/E/G ratio of 0.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50-day moving average of $16.90 and a 200-day moving average of $16.92.

Huntington Bancshares (NASDAQ:HBAN) last released 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. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were given 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 is presently 47.69%.

Insider Buying and Selling

In other news, 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 completion of the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on 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 owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. 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 ninety days, insiders acquired 33,500 shares of company stock worth $617,542. 0.67% of the stock is currently owned by corporate 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.