Diversified Trust Co Invests $1.64 Million in Huntington Bancshares Incorporated $HBAN

Diversified Trust Co bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 104,672 shares of the bank’s stock, valued at approximately $1,638,000.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Norges Bank purchased a new position in shares of Huntington Bancshares during the 4th quarter valued at about $432,584,000. Vanguard Group Inc. raised its holdings in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. Junto Capital Management LP bought a new stake in Huntington Bancshares in the 3rd quarter worth approximately $85,690,000. Finally, Victory Capital Management Inc. lifted its position in Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after buying an additional 4,640,302 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on HBAN. Wolfe Research reduced 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 report on Wednesday, April 1st. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. Royal Bank Of Canada reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Finally, Truist Financial decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Price Performance

HBAN opened at $17.05 on Tuesday. The stock’s 50 day simple moving average is $16.41 and its 200 day simple moving average is $16.87. 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 Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The firm has a market cap of $34.56 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.77 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $0.34 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors 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 3.6%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Insider Buying and Selling

In related news, 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 transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have acquired 33,500 shares of company stock worth $617,542. Corporate insiders own 0.67% of the company’s stock.

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.