King Luther Capital Management Corp Makes New Investment in Huntington Bancshares Incorporated $HBAN

King Luther Capital Management Corp purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 153,905 shares of the bank’s stock, valued at approximately $2,670,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC grew its holdings in Huntington Bancshares by 631.3% during the 4th quarter. AlphaQuest LLC now owns 81,374 shares of the bank’s stock worth $1,412,000 after acquiring an additional 70,246 shares in the last quarter. Smithfield Trust Co grew its holdings in Huntington Bancshares by 17.4% during the 4th quarter. Smithfield Trust Co now owns 89,638 shares of the bank’s stock worth $1,553,000 after acquiring an additional 13,274 shares in the last quarter. Harbour Investments Inc. grew its holdings in Huntington Bancshares by 96.8% during the 4th quarter. Harbour Investments Inc. now owns 20,747 shares of the bank’s stock worth $360,000 after acquiring an additional 10,205 shares in the last quarter. Allstate Corp grew its holdings in Huntington Bancshares by 129.9% during the 4th quarter. Allstate Corp now owns 113,669 shares of the bank’s stock worth $1,972,000 after acquiring an additional 64,224 shares in the last quarter. Finally, Summitry LLC acquired a new position in Huntington Bancshares during the 4th quarter worth approximately $348,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Wolfe Research decreased their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, Evercore decreased their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.12 on Friday. The stock’s 50-day moving average is $16.02 and its two-hundred day moving average is $16.77. The firm has a market cap of $32.68 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.74 and a beta of 0.96. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. 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 (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) 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 analyst estimates 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 last year, the company posted $0.34 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. Huntington Bancshares’s payout ratio is presently 47.69%.

Insider Activity

In other news, Director James D. Rollins III bought 8,471 shares of the stock in a transaction dated Monday, April 27th. The shares were acquired at an average price of $18.01 per share, with a total value of $152,562.71. Following the completion of the acquisition, the director directly owned 11,500 shares in the company, valued at approximately $207,115. The trade was a 279.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the sale, the insider directly owned 83,819 shares in the company, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 18,127 shares of company stock valued at $343,888. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Profile

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.