Brown Advisory Inc. Grows Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Brown Advisory Inc. boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 13.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,467 shares of the bank’s stock after buying an additional 4,347 shares during the quarter. Brown Advisory Inc.’s holdings in Huntington Bancshares were worth $547,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HBAN. Proficio Capital Partners LLC bought a new stake in Huntington Bancshares during the fourth quarter valued at approximately $2,358,000. EverSource Wealth Advisors LLC grew its position in Huntington Bancshares by 97.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 9,456 shares of the bank’s stock valued at $154,000 after buying an additional 4,666 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Huntington Bancshares by 6.0% in the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock worth $200,000 after purchasing an additional 699 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of Huntington Bancshares by 14.7% in the fourth quarter. Frank Rimerman Advisors LLC now owns 16,325 shares of the bank’s stock worth $266,000 after purchasing an additional 2,098 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Huntington Bancshares by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 726,435 shares of the bank’s stock worth $11,819,000 after purchasing an additional 5,093 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Trading Down 1.8%

Shares of HBAN opened at $17.07 on Tuesday. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a market cap of $24.94 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.32 and a beta of 0.93. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98. The company’s fifty day simple moving average is $16.10 and its 200-day simple moving average is $15.70.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Tuesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.33%.

Huntington Bancshares declared that its board has approved a share repurchase plan on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Keefe, Bruyette & Woods dropped their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. TD Cowen initiated coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They issued a “buy” rating and a $20.00 price target for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group began coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They issued a “buy” rating and a $20.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.48.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 59,060 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total value of $848,101.60. Following the transaction, the chief financial officer directly owned 277,348 shares in the company, valued at approximately $3,982,717.28. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Helga Houston sold 42,345 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the transaction, the insider directly owned 592,119 shares in the company, valued at $8,715,991.68. This trade represents a 6.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 214,375 shares of company stock valued at $3,049,277. Company insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.