Midwest Trust Co Increases Stock Holdings in Huntington Bancshares Incorporated $HBAN

Midwest Trust Co boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,510,977 shares of the bank’s stock after purchasing an additional 170,240 shares during the period. Midwest Trust Co owned about 0.10% of Huntington Bancshares worth $26,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Navellier & Associates Inc. grew its position in shares of Huntington Bancshares by 25.3% during the 3rd quarter. Navellier & Associates Inc. now owns 30,756 shares of the bank’s stock valued at $531,000 after acquiring an additional 6,216 shares during the period. Johnson Investment Counsel Inc. raised its stake in Huntington Bancshares by 1.0% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 155,956 shares of the bank’s stock valued at $2,693,000 after acquiring an additional 1,591 shares during the period. Profund Advisors LLC lifted its holdings in Huntington Bancshares by 9.5% during the third quarter. Profund Advisors LLC now owns 25,593 shares of the bank’s stock valued at $442,000 after purchasing an additional 2,220 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Huntington Bancshares by 821.4% during the third quarter. Oppenheimer & Co. Inc. now owns 118,773 shares of the bank’s stock worth $2,051,000 after purchasing an additional 105,883 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Huntington Bancshares by 0.9% in the third quarter. Linden Thomas Advisory Services LLC now owns 107,662 shares of the bank’s stock valued at $1,859,000 after purchasing an additional 985 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the topic of several analyst reports. Raymond James Financial upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Piper Sandler boosted their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, January 12th. UBS Group set a $21.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Finally, TD Cowen upped their price objective on Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.60.

Huntington Bancshares Stock Down 1.4%

Shares of Huntington Bancshares stock opened at $19.00 on Tuesday. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The firm has a market cap of $29.92 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.78 and a beta of 0.96. The company has a 50-day moving average of $17.77 and a 200 day moving average of $16.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 2,481 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the completion of the sale, the insider directly owned 71,566 shares of the company’s stock, valued at $1,273,874.80. This trade represents a 3.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 12,832 shares of Huntington Bancshares stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $18.00, for a total transaction of $230,976.00. Following the completion of the sale, the executive vice president owned 239,473 shares in the company, valued at approximately $4,310,514. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 103,693 shares of company stock valued at $1,693,220 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Company Profile

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.