Curat Global LLC Invests $52,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Curat Global LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, Holdings Channel reports. The fund acquired 3,442 shares of the bank’s stock, valued at approximately $52,000.

Several other hedge funds have also made changes to their positions in the business. Carlson Capital Management boosted its holdings in shares of Huntington Bancshares by 0.4% during the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank’s stock worth $2,661,000 after purchasing an additional 692 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock worth $200,000 after purchasing an additional 699 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Huntington Bancshares by 4.0% during the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock worth $326,000 after purchasing an additional 762 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of Huntington Bancshares by 7.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank’s stock worth $195,000 after purchasing an additional 856 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HBAN shares. Jefferies Financial Group started coverage on Huntington Bancshares in a report on Wednesday, May 21st. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada reduced their target price on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. TD Cowen started coverage on Huntington Bancshares in a report on Thursday, May 15th. They issued a “buy” rating and a $20.00 target price on the stock. Stephens reiterated an “equal weight” rating and issued a $16.50 target price on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Argus set a $17.00 target price on Huntington Bancshares in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.83.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This trade represents a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Stock Up 3.0%

Shares of NASDAQ HBAN opened at $16.22 on Friday. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock’s 50-day simple moving average is $14.69 and its 200-day simple moving average is $15.84.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s payout ratio is 47.33%.

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

About Huntington Bancshares

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.