56,232 Shares in Huntington Bancshares Incorporated $HBAN Bought by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 3rd quarter, HoldingsChannel reports. The firm purchased 56,232 shares of the bank’s stock, valued at approximately $858,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Carret Asset Management LLC lifted its stake in Huntington Bancshares by 9.3% in the third quarter. Carret Asset Management LLC now owns 20,600 shares of the bank’s stock valued at $314,000 after buying an additional 1,750 shares during the last quarter. Means Investment CO. Inc. acquired a new position in shares of Huntington Bancshares during the third quarter valued at $165,000. M Holdings Securities Inc. acquired a new position in shares of Huntington Bancshares during the third quarter valued at $401,000. Brighton Jones LLC boosted its holdings in shares of Huntington Bancshares by 27.9% during the third quarter. Brighton Jones LLC now owns 39,588 shares of the bank’s stock valued at $604,000 after acquiring an additional 8,631 shares during the period. Finally, Candriam S.C.A. grew its position in shares of Huntington Bancshares by 10.0% during the third quarter. Candriam S.C.A. now owns 176,366 shares of the bank’s stock worth $2,701,000 after acquiring an additional 16,085 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $15.47 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Huntington Bancshares Incorporated has a 1-year low of $14.82 and a 1-year high of $19.45. The business’s fifty day moving average price is $15.84 and its two-hundred day moving average price is $16.65. The company has a market capitalization of $31.26 billion, a P/E ratio of 12.79, a PEG ratio of 1.00 and a beta of 0.97.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same quarter in the prior year, the business posted $0.41 earnings per share. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be paid a $0.1550 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 51.24%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 27th. Bank of America downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $18.50 in a research report on Monday, July 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, August 18th. Robert W. Baird decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.89.

Insiders Place Their Bets

In other news, Director Gary Torgow purchased 12,700 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was purchased at an average cost of $15.73 per share, with a total value of $199,771.00. Following the purchase, the director owned 956,041 shares in the company, valued at $15,038,524.93. This trade represents a 1.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donnell White sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the transaction, the senior vice president directly owned 23,697 shares of the company’s stock, valued at $376,071.39. This represents a 11.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus.

Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.