Saranac Partners Ltd Buys 54,427 Shares of Huntington Bancshares Incorporated $HBAN

Saranac Partners Ltd lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,645 shares of the bank’s stock after purchasing an additional 54,427 shares during the quarter. Huntington Bancshares comprises 2.3% of Saranac Partners Ltd’s investment portfolio, making the stock its 22nd biggest holding. Saranac Partners Ltd’s holdings in Huntington Bancshares were worth $5,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at about $26,000. South Plains Financial Inc. raised its holdings in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the last quarter. Accredited Wealth Management LLC lifted 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 acquiring an additional 1,322 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new position in Huntington Bancshares in the 3rd quarter valued at about $31,000. Finally, AlphaCore Capital LLC acquired a new position in Huntington Bancshares during the 3rd quarter valued at about $33,000. Institutional investors own 80.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on HBAN shares. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Argus upped their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. DA Davidson lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Morgan Stanley dropped their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Finally, The Goldman Sachs Group dropped their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III bought 3,029 shares of the stock in a transaction dated Tuesday, April 28th. The shares were bought at an average cost of $21.05 per share, for a total transaction of $63,760.45. Following the purchase, the director directly owned 9,500 shares of the company’s stock, valued at approximately $199,975. This trade represents a 46.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the sale, the vice president owned 481,676 shares in the company, valued at $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 39,200 shares of company stock valued at $756,724. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.46 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $15.97 and its two-hundred day simple moving average is $16.74. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The stock has a market cap of $31.34 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the business earned $0.34 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date 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.