Jackson Square Capital LLC Makes New $210,000 Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Jackson Square Capital LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,299 shares of the bank’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new stake in shares of Huntington Bancshares in the third quarter valued at about $29,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the third quarter valued at about $31,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on HBAN. Piper Sandler increased their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Argus raised their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Evercore ISI raised their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Barclays increased their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares Stock Up 12.7 %

Shares of NASDAQ HBAN opened at $17.52 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 52 week low of $10.10 and a 52 week high of $17.53. The firm’s fifty day moving average is $14.99 and its 200 day moving average is $14.14. The company has a market cap of $25.45 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 3.14 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.2 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Huntington Bancshares Company 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.