Illinois Municipal Retirement Fund Grows Stock Holdings in Huntington Bancshares Incorporated $HBAN

Illinois Municipal Retirement Fund raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 43.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,185 shares of the bank’s stock after purchasing an additional 31,426 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Huntington Bancshares were worth $1,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MTM Investment Management LLC purchased a new position in Huntington Bancshares during the second quarter worth $25,000. Grey Fox Wealth Advisors LLC bought a new position in Huntington Bancshares in the third quarter worth approximately $31,000. Catalyst Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the 2nd quarter worth $30,000. First Horizon Corp purchased a new position in Huntington Bancshares during the 3rd quarter valued at about $36,000. Finally, Root Financial Partners LLC purchased a new position in Huntington Bancshares during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the topic of several analyst reports. Argus lifted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 6th. DA Davidson reissued a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, October 28th. Stephens lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Finally, Morgan Stanley decreased their target price on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Insider Activity at Huntington Bancshares

In other news, insider Amit Dhingra sold 10,000 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider owned 155,634 shares of the company’s stock, valued at $2,879,229. This represents a 6.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brantley J. Standridge sold 5,830 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the transaction, the vice president directly owned 327,676 shares in the company, valued at $6,271,718.64. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 114,732 shares of company stock valued at $1,923,233 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Down 0.4%

Shares of NASDAQ HBAN opened at $17.26 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $17.84 and a 200 day moving average of $17.00. The stock has a market cap of $27.18 billion, a PE ratio of 12.42, a P/E/G ratio of 0.69 and a beta of 0.96. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

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.