Cetera Investment Advisers Purchases 7,399 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cetera Investment Advisers boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 710,814 shares of the bank’s stock after purchasing an additional 7,399 shares during the period. Cetera Investment Advisers’ holdings in Huntington Bancshares were worth $10,669,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Huntington Bancshares by 4.6% in the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after purchasing an additional 2,310,502 shares during the last quarter. FMR LLC lifted its holdings in Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock worth $528,434,000 after buying an additional 8,759,871 shares during the period. Victory Capital Management Inc. lifted its holdings in Huntington Bancshares by 9.2% during the 1st quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank’s stock worth $357,670,000 after buying an additional 2,003,683 shares during the period. Northern Trust Corp lifted its holdings in Huntington Bancshares by 18.4% during the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank’s stock worth $234,658,000 after buying an additional 2,241,926 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Huntington Bancshares by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,679,600 shares of the bank’s stock worth $222,567,000 after buying an additional 1,188,542 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president owned 337,879 shares of the company’s stock, valued at $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 1.0%

NASDAQ HBAN opened at $16.58 on Thursday. The company has a market capitalization of $24.22 billion, a PE ratio of 12.28, a P/E/G ratio of 0.86 and a beta of 0.93. The company has a fifty day moving average of $16.40 and a 200 day moving average of $15.75. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89.

Huntington Bancshares announced that its board has authorized a stock repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.74%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 45.93%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Huntington Bancshares in a research note on Wednesday, May 21st. They issued a “buy” rating and a $20.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 target price for the company in a research report on Thursday, April 24th. DA Davidson boosted their target price on Huntington Bancshares from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Finally, Cowen assumed coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.68.

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.