SVB Wealth LLC Raises Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

SVB Wealth LLC grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 51.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,415 shares of the bank’s stock after buying an additional 5,889 shares during the period. SVB Wealth LLC’s holdings in Huntington Bancshares were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HBAN. Boston Partners grew its stake in shares of Huntington Bancshares by 33.0% in the 3rd quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after buying an additional 7,271,405 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Huntington Bancshares by 23.7% in the 3rd quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after acquiring an additional 3,438,552 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth about $20,004,000. AQR Capital Management LLC lifted its holdings in Huntington Bancshares by 1,652.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock valued at $18,786,000 after buying an additional 1,703,245 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Huntington Bancshares by 31.6% during the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock valued at $56,117,000 after buying an additional 1,296,978 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS Group upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $15.00 in a report on Wednesday, February 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Monday. Finally, Royal Bank of Canada lifted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Stock Up 1.9 %

Shares of Huntington Bancshares stock opened at $13.53 on Tuesday. The firm’s 50 day moving average price is $13.29 and its 200-day moving average price is $12.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $14.07. The company has a market cap of $19.62 billion, a P/E ratio of 12.19, a PEG ratio of 2.47 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the previous year, the firm earned $0.38 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.58%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Insider Activity

In other news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The disclosure for this sale can be found here. Insiders have sold 102,241 shares of company stock valued at $1,360,359 in the last ninety days. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.