Pacer Advisors Inc. Increases Stake in Huntington Bancshares Incorporated $HBAN

Pacer Advisors Inc. increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 73.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,407 shares of the bank’s stock after acquiring an additional 86,478 shares during the period. Pacer Advisors Inc.’s holdings in Huntington Bancshares were worth $3,530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank’s stock valued at $2,954,792,000 after purchasing an additional 2,343,244 shares during the last quarter. Boston Partners raised its position in shares of Huntington Bancshares by 4.8% in the 2nd quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock worth $1,020,382,000 after buying an additional 2,776,429 shares during the period. Invesco Ltd. boosted its holdings in Huntington Bancshares by 1.8% in the second quarter. Invesco Ltd. now owns 58,201,659 shares of the bank’s stock valued at $975,460,000 after acquiring an additional 1,015,066 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Huntington Bancshares by 1.7% in the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock valued at $658,541,000 after acquiring an additional 640,852 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Huntington Bancshares by 1.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 28,384,949 shares of the bank’s stock valued at $475,558,000 after acquiring an additional 397,141 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. DA Davidson reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 28th. TD Cowen lifted their price target on shares of Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Piper Sandler boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 10th. Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.92.

Huntington Bancshares Trading Down 0.9%

HBAN opened at $17.58 on Tuesday. The firm’s 50 day moving average is $16.42 and its 200-day moving average is $16.70. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.03. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $25.66 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.67 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Monday, December 1st. The bank reported $0.67 earnings per share for the quarter. The business had revenue of $580.00 million during the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares’s payout ratio is 43.36%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 64,587 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the completion of the transaction, the insider directly owned 534,640 shares in the company, valued at approximately $8,222,763.20. This represents a 10.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 2,481 shares of Huntington Bancshares stock in a transaction on Friday, December 12th. The stock was sold at an average price of $17.80, for a total transaction of $44,161.80. Following the completion of the sale, the insider owned 71,566 shares of the company’s stock, valued at approximately $1,273,874.80. This trade represents a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 87,863 shares of company stock worth $1,396,634. Company insiders own 0.89% of the company’s stock.

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.