Allstate Corp Invests $854,000 in Huntington Bancshares Incorporated $HBAN

Allstate Corp purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 49,445 shares of the bank’s stock, valued at approximately $854,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its stake in Huntington Bancshares by 26.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 167,515 shares of the bank’s stock valued at $2,808,000 after purchasing an additional 35,014 shares during the last quarter. FineMark National Bank & Trust boosted its stake in Huntington Bancshares by 59.2% during the 2nd quarter. FineMark National Bank & Trust now owns 175,144 shares of the bank’s stock worth $2,935,000 after purchasing an additional 65,144 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth $3,746,000. Commerzbank Aktiengesellschaft FI raised its position in shares of Huntington Bancshares by 43.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 94,979 shares of the bank’s stock valued at $1,592,000 after buying an additional 28,739 shares during the last quarter. Finally, Shoker Investment Counsel Inc. lifted its stake in shares of Huntington Bancshares by 1,706.3% in the second quarter. Shoker Investment Counsel Inc. now owns 200,566 shares of the bank’s stock worth $3,361,000 after buying an additional 189,462 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HBAN. Raymond James Financial reaffirmed a “strong-buy” rating and set a $20.00 price objective (down previously from $21.00) on shares of Huntington Bancshares in a research note on Monday, October 20th. TD Cowen upped their price target on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price objective on Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Wolfe Research reissued an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.08.

Huntington Bancshares Trading Up 4.3%

HBAN opened at $18.77 on Thursday. The stock has a market capitalization of $29.56 billion, a PE ratio of 13.13, a P/E/G ratio of 0.67 and a beta of 0.95. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.91. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The business’s 50 day moving average price is $17.21 and its 200 day moving average price is $16.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Monday, December 1st. The bank reported $0.67 EPS for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The company had revenue of $580.00 million for the quarter. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider owned 155,634 shares of the company’s stock, valued at $2,879,229. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marcy C. Hingst sold 12,832 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the transaction, the executive vice president directly owned 239,473 shares of the company’s stock, valued at approximately $4,310,514. This trade represents a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,863 shares of company stock worth $1,581,634 in the last 90 days. Insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.