Federated Hermes Inc. Purchases 956,933 Shares of Huntington Bancshares Incorporated $HBAN

Federated Hermes Inc. grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,292,946 shares of the bank’s stock after purchasing an additional 956,933 shares during the period. Huntington Bancshares comprises about 0.6% of Federated Hermes Inc.’s holdings, making the stock its 28th largest holding. Federated Hermes Inc. owned approximately 1.46% of Huntington Bancshares worth $367,729,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. MTM Investment Management LLC purchased a new stake in Huntington Bancshares in the second quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $30,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. First Horizon Corp bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $36,000. Finally, Root Financial Partners LLC purchased a new position in Huntington Bancshares in the 3rd quarter worth $44,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $17.43 on Wednesday. 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 fifty-two week low of $11.91 and a fifty-two week high of $18.91. The firm has a market cap of $27.45 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.70 and a beta of 0.95. The business’s 50 day moving average price is $17.36 and its 200-day moving average price is $16.87.

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

Huntington Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday, October 10th. Wolfe Research restated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, January 7th. Stephens lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 18th. Zacks Research lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, DA Davidson restated a “buy” rating and issued a $21.00 target price on shares of Huntington Bancshares in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.11.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 64,587 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the completion of the transaction, the insider directly owned 534,640 shares of the company’s stock, valued at $8,222,763.20. This represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marcy C. Hingst sold 12,832 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $18.00, for a total value of $230,976.00. Following the sale, the executive vice president directly owned 239,473 shares in the company, valued at approximately $4,310,514. The trade was a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 97,863 shares of company stock valued at $1,581,634 over the last three months. Corporate insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.