Aberdeen Group plc Increases Position in Huntington Bancshares Incorporated $HBAN

Aberdeen Group plc grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,388,578 shares of the bank’s stock after acquiring an additional 204,274 shares during the quarter. Aberdeen Group plc’s holdings in Huntington Bancshares were worth $23,349,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Family Legacy Financial Solutions LLC purchased a new position in Huntington Bancshares during the second quarter worth about $25,000. Smallwood Wealth Investment Management LLC purchased a new position in Huntington Bancshares during the first quarter worth about $29,000. Quarry LP raised its holdings in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Huntington Bancshares during the first quarter worth about $31,000. Finally, Golden State Wealth Management LLC raised its holdings in Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank’s stock worth $33,000 after purchasing an additional 1,869 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several analyst reports. Truist Financial increased their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Morgan Stanley increased their target price on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. DA Davidson increased their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Jefferies Financial Group increased their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $19.37.

Huntington Bancshares Trading Up 1.9%

Shares of HBAN opened at $15.90 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $17.10 and a 200-day simple moving average of $16.08. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a market cap of $23.19 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. The business had revenue of $469.00 million during the quarter. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 45.93%.

Huntington Bancshares Company Profile

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.