MQS Management LLC Makes New $917,000 Investment in Huntington Bancshares Incorporated $HBAN

MQS Management LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 53,077 shares of the bank’s stock, valued at approximately $917,000. Huntington Bancshares accounts for about 0.5% of MQS Management LLC’s portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. MTM Investment Management LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in Huntington Bancshares in the second quarter worth $30,000. Grey Fox Wealth Advisors LLC bought a new stake in Huntington Bancshares in the third quarter valued at $31,000. First Horizon Corp acquired a new position in shares of Huntington Bancshares during the third quarter valued at $36,000. Finally, Root Financial Partners LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at $44,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HBAN shares. Jefferies Financial Group increased their price objective on shares of Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 19th. JPMorgan Chase & Co. raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. TD Cowen increased their price objective on Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two research analysts have 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 an average target price of $20.60.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $18.57 on Wednesday. The stock has a market cap of $29.24 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The stock’s 50 day moving average price is $17.81 and its 200 day moving average price is $16.98.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business posted $0.34 earnings per share. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.3%. Huntington Bancshares’s payout ratio is 44.60%.

Insider Buying and Selling

In other Huntington Bancshares news, VP Brantley J. Standridge sold 5,830 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total value of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares of the company’s stock, valued at approximately $6,271,718.64. This represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider directly owned 155,634 shares in the company, valued at $2,879,229. This represents a 6.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 103,693 shares of company stock worth $1,693,220 in the last ninety days. Insiders own 0.89% 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.