Graver Capital Management LLC Purchases Shares of 17,534 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Graver Capital Management LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,534 shares of the bank’s stock, valued at approximately $285,000. Huntington Bancshares comprises approximately 0.3% of Graver Capital Management LLC’s investment portfolio, making the stock its 20th largest position.

Several other large investors also recently modified their holdings of HBAN. Creative Capital Management Investments LLC raised its holdings in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,578 shares during the period. Y.D. More Investments Ltd grew its position in shares of Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $37,000. Transce3nd LLC acquired a new stake in Huntington Bancshares during the 4th quarter worth approximately $48,000. Finally, Asset Dedication LLC boosted its stake in Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,260 shares during the period. 80.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on HBAN shares. Royal Bank of Canada lowered their price objective on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Citigroup dropped their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price objective for the company in a report on Thursday, April 24th. Piper Sandler lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.45.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $15.22 on Friday. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.33 and a beta of 0.89. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The business’s 50-day moving average price is $14.35 and its 200-day moving average price is $15.95. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $0.27 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Huntington Bancshares announced that its board has approved a stock repurchase program on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 25,419 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the sale, the insider now directly owns 70,281 shares of the company’s stock, valued at approximately $961,444.08. This represents a 26.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of Huntington Bancshares stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the transaction, the vice president now directly owns 326,456 shares of the company’s stock, valued at $4,469,182.64. This represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by company insiders.

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.