1900 Wealth Management LLC Takes Position in Huntington Bancshares Incorporated $HBAN

1900 Wealth Management LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 33,371 shares of the bank’s stock, valued at approximately $584,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Junto Capital Management LP bought a new position in Huntington Bancshares during the third quarter valued at $85,690,000. Victory Capital Management Inc. lifted its holdings in Huntington Bancshares by 15.7% during the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after purchasing an additional 4,640,302 shares during the last quarter. Squarepoint Ops LLC boosted its position in Huntington Bancshares by 48.0% during the third quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank’s stock worth $167,119,000 after purchasing an additional 3,138,669 shares during the period. Millennium Management LLC increased its stake in shares of Huntington Bancshares by 85.7% in the third quarter. Millennium Management LLC now owns 6,790,019 shares of the bank’s stock worth $117,264,000 after purchasing an additional 3,133,208 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Huntington Bancshares news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the sale, the vice president owned 481,676 shares of the company’s stock, valued at $7,360,009.28. The trade was a 11.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.79 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $19.45. The firm has a market cap of $32.17 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.64 and a beta of 0.95. The firm has a 50 day moving average price of $16.75 and a 200-day moving average price of $16.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

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

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th were issued a $0.155 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares’s payout ratio is currently 44.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HBAN. Evercore initiated coverage on shares of Huntington Bancshares in a research note on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Jefferies Financial Group dropped their target price on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, National Bank Financial set a $21.00 price target on Huntington Bancshares in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

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.