Victory Capital Management Inc. Buys 3,182,001 Shares of Huntington Bancshares Incorporated $HBAN

Victory Capital Management Inc. boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,412,989 shares of the bank’s stock after acquiring an additional 3,182,001 shares during the period. Victory Capital Management Inc.’s holdings in Huntington Bancshares were worth $649,115,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HBAN. Empowered Funds LLC lifted its position in Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after buying an additional 1,366 shares during the period. Woodline Partners LP lifted its position in Huntington Bancshares by 40.8% during the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after buying an additional 35,574 shares during the period. Brown Advisory Inc. lifted its position in Huntington Bancshares by 8.3% during the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after buying an additional 3,023 shares during the period. Daiwa Securities Group Inc. lifted its position in Huntington Bancshares by 6.2% during the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock valued at $3,674,000 after buying an additional 12,865 shares during the period. Finally, Sei Investments Co. lifted its position in Huntington Bancshares by 6.2% during the second quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock valued at $11,859,000 after buying an additional 41,156 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III bought 11,127 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $16.50 per share, with a total value of $183,595.50. Following the transaction, the director owned 11,127 shares in the company, valued at $183,595.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 33,500 shares of company stock valued at $617,542. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

HBAN opened at $17.52 on Friday. The stock has a 50-day moving average price of $16.29 and a 200-day moving average price of $16.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $35.52 billion, a PE ratio of 13.48, a P/E/G ratio of 0.78 and a beta of 0.94. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares’s payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial lowered their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. DA Davidson lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Wolfe Research lowered their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.10.

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.