First Trust Advisors LP Grows Position in Huntington Bancshares Incorporated $HBAN

First Trust Advisors LP grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 43.7% in the first quarter, HoldingsChannel.com reports. The fund owned 10,226,182 shares of the bank’s stock after purchasing an additional 3,110,695 shares during the period. First Trust Advisors LP’s holdings in Huntington Bancshares were worth $160,040,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. State Street Corp boosted its stake in Huntington Bancshares by 4.7% in the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after buying an additional 3,438,501 shares in the last quarter. Wellington Management Group LLP grew its position in Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares during the last quarter. Boston Partners increased its holdings in shares of Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after buying an additional 2,363,905 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Huntington Bancshares by 6.6% in the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after acquiring an additional 3,908,927 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Up 0.6%

Shares of Huntington Bancshares stock opened at $18.27 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The company’s fifty day simple moving average is $17.05 and its two-hundred day simple moving average is $16.93. The company has a market cap of $37.04 billion, a P/E ratio of 14.05, a PEG ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the business posted $0.34 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought 33,500 shares of company stock valued at $617,542 over the last three months. 0.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HBAN shares. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. Wolfe Research dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. UBS Group lifted their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group lowered 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $20.25.

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.