Eventide Asset Management LLC Has $44.15 Million Stake in Huntington Bancshares Incorporated $HBAN

Eventide Asset Management LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,540,661 shares of the bank’s stock after purchasing an additional 121,934 shares during the quarter. Eventide Asset Management LLC owned 0.16% of Huntington Bancshares worth $44,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares in the 3rd quarter worth about $26,000. South Plains Financial Inc. raised its stake in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares in the last quarter. Accredited Wealth Management LLC raised its stake in Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares in the last quarter. AlphaCore Capital LLC acquired a new stake in Huntington Bancshares in the 3rd quarter worth about $33,000. Finally, Quest 10 Wealth Builders Inc. raised its stake in Huntington Bancshares by 403.1% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after purchasing an additional 2,092 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III purchased 11,127 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $16.50 per share, for a total transaction of $183,595.50. Following the purchase, the director owned 11,127 shares of the company’s stock, valued at approximately $183,595.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders acquired 33,500 shares of company stock valued at $617,542. 0.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HBAN. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Evercore restated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Friday. Wolfe Research cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a report on Thursday, April 23rd. Finally, Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.10.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.52 on Friday. The stock’s 50-day simple moving average is $16.29 and its 200 day simple moving average is $16.83. The firm has a market capitalization of $35.52 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating 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 net margin of 16.63% and a return on equity of 11.42%. During the same period in the previous year, the firm posted $0.34 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is 47.69%.

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.