Junto Capital Management LP Acquires Shares of 4,961,759 Huntington Bancshares Incorporated $HBAN

Junto Capital Management LP acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,961,759 shares of the bank’s stock, valued at approximately $85,690,000. Huntington Bancshares comprises about 1.8% of Junto Capital Management LP’s holdings, making the stock its 18th largest position. Junto Capital Management LP owned 0.34% of Huntington Bancshares at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Gotham Asset Management LLC increased its holdings in shares of Huntington Bancshares by 5.3% in the third quarter. Gotham Asset Management LLC now owns 36,606 shares of the bank’s stock valued at $632,000 after purchasing an additional 1,828 shares during the last quarter. First Commonwealth Financial Corp PA acquired a new stake in shares of Huntington Bancshares during the 3rd quarter worth about $518,000. Ausdal Financial Partners Inc. bought a new stake in shares of Huntington Bancshares during the 3rd quarter worth about $226,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Huntington Bancshares by 43.8% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 44,602 shares of the bank’s stock worth $770,000 after buying an additional 13,593 shares during the period. Finally, California Public Employees Retirement System grew its stake in Huntington Bancshares by 1.7% in the 3rd quarter. California Public Employees Retirement System now owns 2,719,535 shares of the bank’s stock valued at $46,966,000 after buying an additional 46,682 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HBAN shares. Evercore started coverage on shares of Huntington Bancshares in a research report on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 6th. Barclays lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. National Bank Financial set a $21.00 price objective on Huntington Bancshares in a report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

Insider Buying and Selling

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider directly owned 155,634 shares of the company’s stock, valued at $2,879,229. The trade was a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brantley J. Standridge sold 5,830 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the transaction, the vice president owned 327,676 shares of the company’s stock, valued at approximately $6,271,718.64. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 27,700 shares of company stock valued at $540,401 and have sold 33,285 shares valued at $627,009. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Down 1.7%

Shares of NASDAQ:HBAN opened at $15.21 on Monday. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $19.45. The company has a market capitalization of $30.98 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The company has a fifty day moving average of $17.53 and a 200-day moving average of $17.03.

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

Huntington Bancshares Dividend Announcement

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

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.