BankPlus Trust Department Makes New Investment in Huntington Bancshares Incorporated $HBAN

BankPlus Trust Department purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 3rd quarter, HoldingsChannel reports. The fund purchased 50,952 shares of the bank’s stock, valued at approximately $778,000.

A number of other large investors have also recently bought and sold shares of the stock. TD Waterhouse Canada Inc. grew its holdings in shares of Huntington Bancshares by 90.7% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,682 shares of the bank’s stock worth $26,000 after purchasing an additional 800 shares during the last quarter. Trust Co. of Vermont bought a new position in Huntington Bancshares during the 2nd quarter valued at about $29,000. Johnson Financial Group Inc. bought a new position in Huntington Bancshares during the 2nd quarter valued at about $31,000. Livelsberger Financial Advisory acquired a new position in Huntington Bancshares in the third quarter valued at about $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in Huntington Bancshares by 80.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock worth $35,000 after buying an additional 994 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Activity at Huntington Bancshares

In related news, SVP Donnell White sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $15.87, for a total transaction of $47,610.00. Following the completion of the transaction, the senior vice president directly owned 23,697 shares of the company’s stock, valued at approximately $376,071.39. This represents a 11.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Rollins, III purchased 14,000 shares of the stock in a transaction on Monday, October 26th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $253,680.00. Following the transaction, the director directly owned 15,500 shares in the company, valued at approximately $280,860. The trade was a 933.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent analyst reports. Zacks Research lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. DA Davidson dropped their price objective on Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, September 21st. Stephens cut their target price on Huntington Bancshares from $19.00 to $18.00 in a research note on Tuesday, September 22nd. Bank of America cut Huntington Bancshares from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $18.50 in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on Huntington Bancshares from $17.50 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.89.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.82 on Friday. Huntington Bancshares Incorporated has a 12 month low of $14.82 and a 12 month high of $19.45. The firm has a fifty day simple moving average of $15.75 and a 200 day simple moving average of $16.61. The stock has a market capitalization of $31.96 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.01 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

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

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be issued a dividend of $0.1550 per share. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 51.24%.

About Huntington Bancshares

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.