Petiole USA ltd Acquires New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Petiole USA ltd bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 235,000 shares of the bank’s stock, valued at approximately $3,454,000. Huntington Bancshares makes up about 2.3% of Petiole USA ltd’s holdings, making the stock its 19th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after purchasing an additional 1,522,767 shares in the last quarter. Boston Partners lifted its stake in Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. FMR LLC boosted its position in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after buying an additional 3,410,597 shares during the period. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after buying an additional 2,363,988 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Huntington Bancshares by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after buying an additional 561,565 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $18.14 on Tuesday. The company’s fifty day moving average price is $15.79 and its 200-day moving average price is $14.50. The stock has a market cap of $26.35 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 12 month low of $10.73 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays increased their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Citigroup raised their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Piper Sandler upped their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, DA Davidson upped their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.62.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.