ProShare Advisors LLC Grows Stock Holdings in Huntington Bancshares Incorporated $HBAN

ProShare Advisors LLC grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,988 shares of the bank’s stock after acquiring an additional 34,728 shares during the period. ProShare Advisors LLC’s holdings in Huntington Bancshares were worth $6,766,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. boosted its holdings 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 buying an additional 826 shares in the last quarter. Accredited Wealth Management LLC boosted its holdings in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in Huntington Bancshares during the third quarter worth $33,000. Finally, Root Financial Partners LLC purchased a new stake in Huntington Bancshares during the third quarter worth $44,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent analyst reports. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a report on Thursday, April 23rd. Evercore lowered their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Morgan Stanley lowered their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Jefferies Financial Group increased their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.92 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The company has a fifty day moving average of $15.97 and a two-hundred day moving average of $16.74. The stock has a market capitalization of $32.27 billion, a PE ratio of 12.25, a P/E/G ratio of 0.73 and a beta of 0.96. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

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. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period in the prior year, the business posted $0.34 earnings per share. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insiders Place Their Bets

In related news, Director James D. Rollins III acquired 8,471 shares of Huntington Bancshares stock in a transaction on Monday, April 27th. The stock was bought at an average cost of $18.01 per share, for a total transaction of $152,562.71. Following the completion of the transaction, the director owned 11,500 shares of the company’s stock, valued at approximately $207,115. The trade was a 279.66% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the transaction, the insider owned 83,819 shares of the company’s stock, valued at $1,299,194.50. This represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders purchased 25,000 shares of company stock worth $503,822. Company insiders own 0.67% of the company’s stock.

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.