Focus Financial Network Inc. ADV Purchases New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Focus Financial Network Inc. ADV purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,375 shares of the bank’s stock, valued at approximately $314,000.

Several other institutional investors have also bought and sold shares of HBAN. Boston Partners boosted its stake in Huntington Bancshares by 59.3% in the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after buying an additional 17,365,446 shares in the last quarter. Norges Bank acquired a new position in Huntington Bancshares in the fourth quarter worth $206,703,000. Qube Research & Technologies Ltd acquired a new position in Huntington Bancshares in the third quarter worth $20,004,000. AQR Capital Management LLC boosted its stake in Huntington Bancshares by 1,652.2% in the third quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock worth $18,786,000 after purchasing an additional 1,703,245 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Huntington Bancshares by 26.4% in the third quarter. Envestnet Asset Management Inc. now owns 6,109,368 shares of the bank’s stock worth $63,537,000 after purchasing an additional 1,277,811 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In other news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders sold a total of 208,551 shares of company stock valued at $2,834,671 over the last three months. Insiders own 0.92% of the company’s stock.

Huntington Bancshares Trading Up 1.9 %

NASDAQ HBAN opened at $13.92 on Monday. The stock has a 50-day simple moving average of $13.71 and a 200 day simple moving average of $12.95. The company has a market capitalization of $20.17 billion, a PE ratio of 12.54, a P/E/G ratio of 2.57 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $14.30.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the company earned $0.38 earnings per share. Research analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

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 given a $0.155 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.45%. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Ratings Changes

A number of equities analysts have commented on HBAN shares. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Royal Bank of Canada boosted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Stephens reissued an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. upgraded Huntington Bancshares from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $16.00 to $18.00 in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $15.30.

View Our Latest Report on Huntington Bancshares

About Huntington Bancshares

(Free Report)

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.

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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