Aviance Capital Partners LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Aviance Capital Partners LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, Holdings Channel reports. The institutional investor bought 10,320 shares of the bank’s stock, valued at approximately $155,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Invesco Ltd. grew its position in shares of Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after buying an additional 2,310,502 shares during the last quarter. FMR LLC boosted its stake in Huntington Bancshares by 36.9% in the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after acquiring an additional 8,759,871 shares during the period. Norges Bank bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $302,826,000. Amundi raised its position in shares of Huntington Bancshares by 26.7% during the 4th quarter. Amundi now owns 17,435,207 shares of the bank’s stock worth $286,460,000 after purchasing an additional 3,671,235 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Huntington Bancshares by 18.4% in the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank’s stock worth $234,658,000 after purchasing an additional 2,241,926 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 42,345 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the sale, the insider directly owned 592,119 shares of the company’s stock, valued at $8,715,991.68. This represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,375 shares of company stock valued at $3,049,277 in the last ninety days. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Trading Up 0.6%

Shares of Huntington Bancshares stock opened at $17.51 on Friday. The business has a fifty day simple moving average of $15.83 and a 200-day simple moving average of $15.67. The firm has a market cap of $25.58 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its board has approved a stock buyback program on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were issued a dividend of $0.155 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.54%. Huntington Bancshares’s dividend payout ratio is 47.33%.

Analysts Set New Price Targets

Several brokerages have weighed in on HBAN. Truist Financial increased their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Thursday. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada dropped their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

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.