Midwest Trust Co Acquires New Shares in Huntington Bancshares Incorporated $HBAN

Midwest Trust Co bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,340,737 shares of the bank’s stock, valued at approximately $22,471,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Huntington Bancshares during the 2nd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in Huntington Bancshares during the second quarter valued at approximately $30,000. Quarry LP lifted its stake in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after acquiring an additional 814 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in Huntington Bancshares in the first quarter valued at approximately $40,000. Finally, Trust Co. of Vermont grew its position in Huntington Bancshares by 249.8% in the second quarter. Trust Co. of Vermont now owns 2,690 shares of the bank’s stock worth $45,000 after acquiring an additional 1,921 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Inglis acquired 6,506 shares of the stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the purchase, the director owned 89,831 shares of the company’s stock, valued at $1,374,414.30. The trade was a 7.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Up 1.8%

Huntington Bancshares stock opened at $15.69 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm has a fifty day moving average price of $16.66 and a two-hundred day moving average price of $16.36. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.66 and a beta of 1.01.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The company had revenue of $469.00 million for the quarter. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s payout ratio is currently 43.36%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HBAN. Jefferies Financial Group cut their price target on shares of Huntington Bancshares from $20.00 to $19.00 in a report on Monday, November 3rd. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Morgan Stanley raised their target price on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Citigroup upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.66.

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.