Huntington Bancshares Incorporated $HBAN Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,196,652 shares of the bank’s stock after purchasing an additional 96,032 shares during the quarter. Baird Financial Group Inc. owned 0.08% of Huntington Bancshares worth $20,056,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new position in Huntington Bancshares in the 2nd quarter valued at about $25,000. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $25,000. Quarry LP boosted its holdings in shares of Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after acquiring an additional 814 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Huntington Bancshares during the second quarter valued at approximately $30,000. Finally, Truvestments Capital LLC lifted its position in Huntington Bancshares by 1,257.8% in the first quarter. Truvestments Capital LLC now owns 2,960 shares of the bank’s stock worth $44,000 after purchasing an additional 2,742 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Helga Houston sold 64,587 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the completion of the sale, the insider directly owned 534,640 shares of the company’s stock, valued at $8,222,763.20. This represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Inglis acquired 6,506 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average cost of $15.30 per share, for a total transaction of $99,541.80. Following the completion of the transaction, the director directly owned 89,831 shares of the company’s stock, valued at $1,374,414.30. This represents a 7.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.90 on Friday. The company’s fifty day moving average is $16.04 and its two-hundred day moving average is $16.48. The company has a market cap of $24.66 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.96. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.03. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Monday, December 1st. The bank reported $0.67 EPS for the quarter. The business had revenue of $580.00 million during the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. Equities analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s payout ratio is 43.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HBAN. Deutsche Bank Aktiengesellschaft lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. boosted their price target on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. DA Davidson reissued a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, October 28th. TD Cowen lifted their price objective on shares of Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.69.

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.