Brevan Howard Capital Management LP Decreases Position in Huntington Bancshares Incorporated $HBAN

Brevan Howard Capital Management LP decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 613,111 shares of the bank’s stock after selling 183,011 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Huntington Bancshares were worth $10,588,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. MTM Investment Management LLC purchased a new position in Huntington Bancshares in the second quarter valued at $25,000. South Plains Financial Inc. raised its position in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares in the last quarter. Accredited Wealth Management LLC raised its position in Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter valued at about $31,000. Finally, AlphaCore Capital LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth about $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on HBAN. Argus upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Truist Financial lowered their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday. Stephens increased their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, December 18th. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Finally, Barclays boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

Huntington Bancshares Stock Down 1.7%

HBAN stock opened at $15.21 on Friday. The stock has a market cap of $30.87 billion, a P/E ratio of 10.94, a PEG ratio of 0.61 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45. The company’s 50 day moving average is $17.53 and its two-hundred day moving average is $17.03.

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

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. Huntington Bancshares’s payout ratio is 44.60%.

Insiders Place Their Bets

In other news, Director Gary Torgow acquired 14,200 shares of Huntington Bancshares stock in a transaction on Thursday, February 19th. The stock was bought at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the purchase, the director owned 943,341 shares in the company, valued at $16,800,903.21. This represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James D. Rollins III bought 1,127 shares of the stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $25.39 per share, for a total transaction of $28,614.53. Following the completion of the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately $101,560. The trade was a 39.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 27,700 shares of company stock worth $540,401 and sold 33,285 shares worth $627,009. Company 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.