Balentine LLC Invests $132,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Balentine LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,386 shares of the bank’s stock, valued at approximately $132,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners boosted its holdings in Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after purchasing an additional 17,365,446 shares during the period. Norges Bank purchased a new position in Huntington Bancshares in the fourth quarter valued at $206,703,000. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 23.7% in the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after buying an additional 3,438,552 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Huntington Bancshares in the third quarter valued at $20,004,000. Finally, AQR Capital Management LLC raised its stake in Huntington Bancshares by 1,652.2% in the third quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock valued at $18,786,000 after buying an additional 1,703,245 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Down 2.4 %

Shares of Huntington Bancshares stock opened at $13.58 on Friday. The company has a fifty day moving average price of $13.65 and a 200 day moving average price of $12.78. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $14.30. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the prior year, the company earned $0.38 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.21 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 Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.57%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Analyst Ratings Changes

HBAN has been the topic of a number of research analyst reports. Evercore ISI lifted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Stephens reissued an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Royal Bank of Canada raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Finally, Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

Insider Activity

In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,551 shares of company stock worth $2,834,671. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Profile

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.