Hardy Reed LLC Buys Shares of 518,782 Huntington Bancshares Incorporated $HBAN

Hardy Reed LLC bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 518,782 shares of the bank’s stock, valued at approximately $8,119,000. Huntington Bancshares makes up approximately 0.6% of Hardy Reed LLC’s investment portfolio, making the stock its 26th biggest position.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC lifted its position in Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after acquiring an additional 1,366 shares during the last quarter. Woodline Partners LP grew its holdings in Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after purchasing an additional 35,574 shares during the last quarter. Brown Advisory Inc. grew its holdings in Huntington Bancshares by 8.3% in the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock worth $662,000 after purchasing an additional 3,023 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Huntington Bancshares by 6.2% during the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock worth $3,674,000 after purchasing an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Huntington Bancshares by 6.2% during the second quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock worth $11,859,000 after purchasing an additional 41,156 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. DA Davidson reduced their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Morgan Stanley raised their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Jefferies Financial Group boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.15.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.86 on Monday. The business has a fifty day moving average of $16.60 and a 200 day moving average of $16.90. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. 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 firm has a market capitalization of $36.20 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth 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 for the quarter, beating the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate 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 business earned $0.34 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares 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 shares were 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 of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $190,224.00. Following the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders purchased 33,500 shares of company stock worth $617,542. 0.67% of the stock is owned by corporate insiders.

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.