University of Texas Texas AM Investment Management Co. Acquires New Holdings in Huntington Bancshares Incorporated $HBAN

University of Texas Texas AM Investment Management Co. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 58,043 shares of the bank’s stock, valued at approximately $1,007,000.

Other institutional investors also recently modified their holdings of the company. Sagespring Wealth Partners LLC grew its stake in Huntington Bancshares by 2.4% in the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after buying an additional 587 shares during the last quarter. MCF Advisors LLC lifted its position in shares of Huntington Bancshares by 12.6% during the 4th quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock worth $95,000 after purchasing an additional 609 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Huntington Bancshares by 4.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock valued at $292,000 after purchasing an additional 694 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Huntington Bancshares by 0.4% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 189,963 shares of the bank’s stock valued at $3,296,000 after buying an additional 700 shares during the last quarter. Finally, Glenmede Investment Management LP increased its position in Huntington Bancshares by 1.7% in the 3rd quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank’s stock worth $755,000 after buying an additional 728 shares during the period. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HBAN. Wolfe Research dropped their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Truist Financial decreased their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Morgan Stanley cut 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. Finally, The Goldman Sachs Group decreased their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.05.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III purchased 4,798 shares of the stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $203,000. The trade was a 92.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 33,500 shares of company stock valued at $617,542 in the last ninety days. 0.67% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $17.21 on Tuesday. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The stock has a 50-day simple moving average of $16.32 and a 200 day simple moving average of $16.85. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $34.89 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.80 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results 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. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 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.