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

Hartford Funds Management Co LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,555 shares of the bank’s stock, valued at approximately $509,000.

Several other hedge funds have also recently bought and sold shares of HBAN. MV Capital Management Inc. acquired a new stake in Huntington Bancshares during the 4th quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at about $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at about $28,000. DV Equities LLC purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth approximately $38,000. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of Huntington Bancshares by 403.1% in 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. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HBAN shares. Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research report on Thursday, April 23rd. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. UBS Group boosted their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, DA Davidson dropped their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Huntington Bancshares Stock Up 0.3%

Shares of Huntington Bancshares stock opened at $17.93 on Tuesday. The stock has a market capitalization of $36.35 billion, a P/E ratio of 13.79, a PEG ratio of 0.81 and a beta of 0.93. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average price of $16.75 and a two-hundred day moving average price of $16.90. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm posted $0.34 earnings per share. Equities analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction on 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 completion of the transaction, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased a total of 33,500 shares of company stock worth $617,542 in the last quarter. Insiders own 0.67% of the company’s stock.

Huntington Bancshares 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.