Huntington Bancshares Incorporated $HBAN Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 148.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,446,473 shares of the bank’s stock after buying an additional 2,655,287 shares during the quarter. SG Americas Securities LLC owned approximately 0.22% of Huntington Bancshares worth $69,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MV Capital Management Inc. acquired a new position in shares of Huntington Bancshares during the 4th quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. raised its stake in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Centennial Bank AR purchased a new position in Huntington Bancshares during the fourth quarter worth about $28,000. Finally, Accredited Wealth Management LLC boosted its holdings in Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 33,500 shares of company stock worth $617,542 in the last ninety days. Company insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HBAN shares. The Goldman Sachs Group cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. Jefferies Financial Group upped their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 24th. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. DA Davidson reduced their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, Truist Financial decreased their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.05 on Tuesday. The company’s 50 day simple moving average is $16.41 and its 200-day simple moving average is $16.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The company has a market capitalization of $34.56 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data 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 net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter last year, the company posted $0.34 EPS. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

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.