Hartford Funds Management Co LLC Takes $509,000 Position in Huntington Bancshares Incorporated $HBAN

Hartford Funds Management Co LLC acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,555 shares of the bank’s stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter worth about $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $28,000. DV Equities LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $38,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in Huntington Bancshares by 403.1% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after purchasing an additional 2,092 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 33,500 shares of company stock valued at $617,542 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.93 on Tuesday. The stock has a market capitalization of $36.35 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The business’s fifty day moving average is $16.75 and its two-hundred day moving average is $16.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period last year, the company posted $0.34 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HBAN shares. The Goldman Sachs Group decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Weiss Ratings raised Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Evercore restated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, July 6th. Morgan Stanley raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Huntington Bancshares Company 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.