Empirical Finance LLC Buys 1,189 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Empirical Finance LLC lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,555 shares of the bank’s stock after buying an additional 1,189 shares during the period. Empirical Finance LLC’s holdings in Huntington Bancshares were worth $684,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc boosted its holdings in Huntington Bancshares by 5.1% during the 3rd quarter. CIBC Asset Management Inc now owns 598,293 shares of the bank’s stock worth $8,795,000 after acquiring an additional 28,870 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Huntington Bancshares by 2.8% in the third quarter. OneDigital Investment Advisors LLC now owns 41,971 shares of the bank’s stock valued at $617,000 after purchasing an additional 1,136 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Huntington Bancshares by 1.1% during the third quarter. Metis Global Partners LLC now owns 79,427 shares of the bank’s stock valued at $1,168,000 after purchasing an additional 885 shares in the last quarter. Curi RMB Capital LLC grew its position in Huntington Bancshares by 1.8% in the 3rd quarter. Curi RMB Capital LLC now owns 518,503 shares of the bank’s stock worth $7,622,000 after purchasing an additional 9,375 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Huntington Bancshares by 15.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,487 shares of the bank’s stock valued at $198,000 after buying an additional 1,762 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HBAN. Morgan Stanley upped their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Piper Sandler raised their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a report on Friday, October 18th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.69 on Friday. The company has a 50-day simple moving average of $15.38 and a two-hundred day simple moving average of $14.33. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $17.97. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.55 and a beta of 1.03. 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 (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the company earned $0.36 EPS. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. Company insiders own 0.89% of the company’s stock.

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.