Fifth Third Bancorp Grows Position in Huntington Bancshares Incorporated $HBAN

Fifth Third Bancorp boosted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 500.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 604,166 shares of the bank’s stock after acquiring an additional 503,604 shares during the quarter. Fifth Third Bancorp’s holdings in Huntington Bancshares were worth $9,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simplicity Wealth LLC lifted its stake in Huntington Bancshares by 24.7% in the first quarter. Simplicity Wealth LLC now owns 14,807 shares of the bank’s stock worth $232,000 after purchasing an additional 2,935 shares during the last quarter. Candriam S.C.A. grew its stake in shares of Huntington Bancshares by 7.4% during the first quarter. Candriam S.C.A. now owns 173,268 shares of the bank’s stock valued at $2,712,000 after buying an additional 11,887 shares during the last quarter. Torren Management LLC grew its stake in shares of Huntington Bancshares by 101.9% during the first quarter. Torren Management LLC now owns 7,249 shares of the bank’s stock valued at $113,000 after buying an additional 3,658 shares during the last quarter. Elevated Capital Advisors LLC raised its holdings in shares of Huntington Bancshares by 8.3% in the first quarter. Elevated Capital Advisors LLC now owns 56,444 shares of the bank’s stock worth $883,000 after buying an additional 4,321 shares during the period. Finally, Kestra Advisory Services LLC lifted its stake in shares of Huntington Bancshares by 7.1% during the 1st quarter. Kestra Advisory Services LLC now owns 715,431 shares of the bank’s stock worth $11,196,000 after acquiring an additional 47,314 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 1.5%

Shares of NASDAQ HBAN opened at $18.12 on Thursday. 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 business has a fifty day simple moving average of $16.81 and a two-hundred day simple moving average of $16.91. The firm has a market cap of $36.73 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued 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. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the prior year, the business earned $0.34 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. Huntington Bancshares’s dividend payout ratio is 47.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Evercore restated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, July 6th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research lowered their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings upgraded shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Finally, Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 33,500 shares of company stock worth $617,542. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Company 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.