Coldstream Capital Management Inc. Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Coldstream Capital Management Inc. raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.6% during the third quarter, Holdings Channel.com reports. The firm owned 47,405 shares of the bank’s stock after purchasing an additional 3,751 shares during the period. Coldstream Capital Management Inc.’s holdings in Huntington Bancshares were worth $706,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after acquiring an additional 473,893 shares during the last quarter. M&T Bank Corp raised its position in Huntington Bancshares by 12.4% in the third quarter. M&T Bank Corp now owns 59,799 shares of the bank’s stock valued at $879,000 after purchasing an additional 6,578 shares during the period. Executive Wealth Management LLC acquired a new position in Huntington Bancshares during the third quarter worth $357,000. Hamilton Capital LLC purchased a new position in shares of Huntington Bancshares during the third quarter worth $8,413,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Huntington Bancshares by 2.6% in the third quarter. Public Employees Retirement System of Ohio now owns 565,027 shares of the bank’s stock valued at $8,306,000 after buying an additional 14,482 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was 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 of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,699 shares of company stock valued at $757,356. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.17 on Friday. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. Huntington Bancshares Incorporated has a 52-week low of $12.02 and a 52-week high of $18.44. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average price of $16.65 and a 200 day moving average price of $14.85.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.36 EPS. Research analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research reports. The Goldman Sachs Group increased their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler increased their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.41.

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.