Midwest Trust Co grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,663,832 shares of the bank’s stock after acquiring an additional 139,876 shares during the quarter. Midwest Trust Co owned about 0.08% of Huntington Bancshares worth $26,039,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in HBAN. MV Capital Management Inc. bought a new stake in Huntington Bancshares during the fourth quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at about $26,000. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $28,000. DV Equities LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $38,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in shares of Huntington Bancshares by 403.1% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after buying an additional 2,092 shares in the last quarter. 80.72% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on HBAN. Royal Bank Of Canada boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. The Goldman Sachs Group lowered their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a report on Thursday, April 23rd. UBS Group increased their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, DA Davidson lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.25.
Insiders Place Their Bets
In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought 33,500 shares of company stock worth $617,542 over the last three months. Corporate insiders own 0.67% of the company’s stock.
Huntington Bancshares Stock Performance
Shares of Huntington Bancshares stock traded up $0.11 during midday trading on Friday, hitting $17.87. The company had a trading volume of 14,157,471 shares, compared to its average volume of 19,734,146. The stock has a market cap of $36.22 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.81 and a beta of 0.93. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $16.73 and a 200 day simple moving average of $16.91. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.
Huntington Bancshares Profile
Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.
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