Argent Advisors Inc. Acquires 36,503 Shares of Huntington Bancshares Incorporated $HBAN

Argent Advisors Inc. raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 197.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 54,993 shares of the bank’s stock after acquiring an additional 36,503 shares during the quarter. Argent Advisors Inc.’s holdings in Huntington Bancshares were worth $861,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HBAN. MV Capital Management Inc. acquired a new position in Huntington Bancshares during the 4th quarter worth about $25,000. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $26,000. South Plains Financial Inc. increased its stake in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the period. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $28,000. Finally, DV Equities LLC bought a new position in shares of Huntington Bancshares during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on HBAN. JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Truist Financial reduced their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Piper Sandler upgraded 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 report on Thursday, April 23rd. Finally, Evercore reiterated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.15.

Insider Transactions at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This trade represents a 26.75% 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 hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was 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. Insiders have acquired a total of 33,500 shares of company stock valued at $617,542 in the last quarter. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Up 2.1%

Shares of NASDAQ:HBAN opened at $18.11 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The business’s 50 day simple moving average is $16.56 and its two-hundred day simple moving average is $16.90. The firm has a market cap of $36.71 billion, a P/E ratio of 13.93, a PEG ratio of 0.81 and a beta of 0.93.

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

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. Huntington Bancshares’s payout ratio is 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.