True North Advisors LLC Takes $3.70 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

True North Advisors LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 240,266 shares of the bank’s stock, valued at approximately $3,704,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its position in Huntington Bancshares by 433.3% during the 4th quarter. Tortoise Investment Management LLC now owns 1,600 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,300 shares during the period. Avondale Wealth Management acquired a new position in Huntington Bancshares during the 4th quarter valued at approximately $26,000. Larson Financial Group LLC acquired a new position in Huntington Bancshares during the 4th quarter valued at approximately $31,000. Achmea Investment Management B.V. acquired a new position in Huntington Bancshares during the 3rd quarter valued at approximately $32,000. Finally, Allworth Financial LP boosted its position in Huntington Bancshares by 66.4% during the 4th quarter. Allworth Financial LP now owns 2,218 shares of the bank’s stock valued at $34,000 after purchasing an additional 885 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

A number of research firms recently issued reports on HBAN. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd. Bank of America lowered Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research report on Friday, April 8th. Morgan Stanley reduced their price target on Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, March 28th. Stephens upgraded Huntington Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $16.00 to $17.00 in a research report on Monday, April 25th. Finally, Raymond James cut their price objective on Huntington Bancshares from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.71.

In other Huntington Bancshares news, VP Steven Lee Rhodes sold 14,705 shares of the company’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $13.28, for a total value of $195,282.40. Following the transaction, the vice president now directly owns 127,581 shares of the company’s stock, valued at approximately $1,694,275.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen D. Steinour bought 14,234 shares of the company’s stock in a transaction on Tuesday, April 26th. The stock was purchased at an average cost of $13.98 per share, for a total transaction of $198,991.32. Following the completion of the transaction, the chief executive officer now owns 627,104 shares in the company, valued at $8,766,913.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

Shares of Huntington Bancshares stock traded down $0.09 on Friday, reaching $13.02. 14,066,227 shares of the company were exchanged, compared to its average volume of 14,315,874. The stock has a fifty day moving average price of $14.00 and a 200-day moving average price of $15.12. The firm has a market capitalization of $18.74 billion, a price-to-earnings ratio of 11.13 and a beta of 1.18. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. Huntington Bancshares Incorporated has a fifty-two week low of $12.56 and a fifty-two week high of $17.79.

Huntington Bancshares (NASDAQ:HBANGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The bank reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Huntington Bancshares had a return on equity of 12.19% and a net margin of 26.96%. Huntington Bancshares’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, June 16th. Huntington Bancshares’s payout ratio is 52.99%.

About Huntington Bancshares (Get Rating)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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