Jain Global LLC Has $10.34 Million Stock Position in Huntington Bancshares Incorporated $HBAN

Jain Global LLC raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 64.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 598,985 shares of the bank’s stock after acquiring an additional 235,747 shares during the quarter. Jain Global LLC’s holdings in Huntington Bancshares were worth $10,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MTM Investment Management LLC acquired a new position in Huntington Bancshares during the second quarter worth $25,000. South Plains Financial Inc. increased its stake in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the last quarter. Accredited Wealth Management LLC lifted its position in 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 buying an additional 1,322 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth about $31,000. Finally, AlphaCore Capital LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Up 0.5%

Huntington Bancshares stock opened at $15.28 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The company’s 50-day moving average is $17.47 and its 200-day moving average is $17.01. The firm has a market capitalization of $31.13 billion, a PE ratio of 10.99, a P/E/G ratio of 0.61 and a beta of 0.95. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results 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). 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 analyst estimates of $2.21 billion. During the same quarter last year, the business posted $0.34 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 44.60%.

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. DA Davidson decreased their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday. Zacks Research lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 6th. National Bank Financial set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th. Finally, Argus boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.63.

Insider Activity at Huntington Bancshares

In other news, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider directly owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 17,455 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares in the company, valued at $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. 0.89% of the stock is owned by insiders.

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.