Victory Capital Management Inc. Boosts Holdings in Huntington Bancshares Incorporated $HBAN

Victory Capital Management Inc. raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,230,988 shares of the bank’s stock after buying an additional 4,640,302 shares during the period. Victory Capital Management Inc.’s holdings in Huntington Bancshares were worth $594,054,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Huntington Bancshares in the 2nd quarter worth $374,474,000. Fisher Asset Management LLC increased its position in Huntington Bancshares by 1,700.0% in the second quarter. Fisher Asset Management LLC now owns 3,351,087 shares of the bank’s stock worth $56,164,000 after buying an additional 3,164,915 shares in the last quarter. Jefferies Financial Group Inc. lifted its position in shares of Huntington Bancshares by 14,950.0% during the 2nd quarter. Jefferies Financial Group Inc. now owns 3,004,729 shares of the bank’s stock valued at $50,359,000 after buying an additional 2,984,764 shares in the last quarter. Boston Partners grew its stake in shares of Huntington Bancshares by 4.8% during the 2nd quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock valued at $1,020,382,000 after acquiring an additional 2,776,429 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Huntington Bancshares by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank’s stock worth $2,954,792,000 after acquiring an additional 2,343,244 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $16.97 on Tuesday. The firm has a market cap of $34.45 billion, a PE ratio of 12.21, a PEG ratio of 0.68 and a beta of 0.96. The stock has a 50 day moving average of $17.79 and a 200 day moving average of $17.08. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period last year, the company earned $0.34 earnings per share. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. Huntington Bancshares’s payout ratio is 44.60%.

Insider Activity

In other news, VP Brantley J. Standridge sold 5,830 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total value of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares of the company’s stock, valued at $6,271,718.64. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kendall A. Kowalski sold 2,481 shares of Huntington Bancshares stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $17.80, for a total value of $44,161.80. Following the completion of the transaction, the insider owned 71,566 shares of the company’s stock, valued at approximately $1,273,874.80. This trade represents a 3.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 50,145 shares of company stock worth $929,885. 0.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HBAN shares. Argus lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Evercore initiated coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.69.

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.