Victory Capital Management Inc. Purchases 4,640,302 Shares of Huntington Bancshares Incorporated $HBAN

Victory Capital Management Inc. grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,230,988 shares of the bank’s stock after acquiring an additional 4,640,302 shares during the period. Victory Capital Management Inc. owned about 2.35% of Huntington Bancshares worth $594,054,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Parcion Private Wealth LLC raised its position in Huntington Bancshares by 6.2% during the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock valued at $191,000 after purchasing an additional 648 shares during the last quarter. Strategic Planning Inc. increased its stake in shares of Huntington Bancshares by 0.3% during the third quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after buying an additional 670 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Huntington Bancshares by 1.0% during the third quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank’s stock valued at $1,263,000 after acquiring an additional 758 shares in the last quarter. Wedmont Private Capital lifted its stake in Huntington Bancshares by 3.1% in the third quarter. Wedmont Private Capital now owns 27,294 shares of the bank’s stock worth $457,000 after acquiring an additional 808 shares during the period. Finally, Chris Bulman Inc boosted its holdings in Huntington Bancshares by 7.8% in the third quarter. Chris Bulman Inc now owns 11,698 shares of the bank’s stock valued at $202,000 after acquiring an additional 847 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on HBAN shares. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Morgan Stanley increased their price target on shares of Huntington Bancshares from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday. Wall Street Zen cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. UBS Group set a $21.00 target price on Huntington Bancshares in a research note on Wednesday, February 4th. Finally, National Bank Financial set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $20.69.

Insider Activity at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 5,830 shares of the firm’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 value of $111,586.20. Following the sale, the vice president owned 327,676 shares in the company, valued at approximately $6,271,718.64. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction 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 owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,145 shares of company stock valued at $929,885 over the last quarter. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.97 on Tuesday. The company has a market cap of $34.45 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.68 and a beta of 0.96. The business’s fifty day simple moving average is $17.79 and its two-hundred day simple moving average is $17.08. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the business posted $0.34 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed 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 3.7%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s payout ratio is presently 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.