SageView Advisory Group LLC Purchases New Shares in Huntington Bancshares Incorporated $HBAN

SageView Advisory Group LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,247 shares of the bank’s stock, valued at approximately $2,163,000.

Several other institutional investors and hedge funds also recently bought and sold shares of HBAN. MTM Investment Management LLC purchased a new stake in shares of Huntington Bancshares in the second quarter valued at $25,000. Accredited Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth about $31,000. AlphaCore Capital LLC bought a new position in Huntington Bancshares during the 3rd quarter valued at about $33,000. Finally, First Horizon Corp purchased a new stake in Huntington Bancshares in the 3rd quarter worth about $36,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James D. Rollins III purchased 1,127 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $25.39 per share, with a total value of $28,614.53. Following the transaction, the director owned 4,000 shares of the company’s stock, valued at $101,560. This represents a 39.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were 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 in the company, valued at approximately $2,879,229. This represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 27,700 shares of company stock worth $540,401 and sold 35,766 shares worth $671,171. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $15.64 on Thursday. The firm’s 50 day simple moving average is $17.61 and its 200-day simple moving average is $17.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $19.45. The firm has a market cap of $31.75 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.65 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Zacks Research downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Evercore assumed coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 price target for the company. Stephens boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Finally, Jefferies Financial Group cut their price objective on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.78.

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.