Oppenheimer & Co. Inc. Acquires 105,883 Shares of Huntington Bancshares Incorporated $HBAN

Oppenheimer & Co. Inc. raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 821.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 118,773 shares of the bank’s stock after acquiring an additional 105,883 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Huntington Bancshares were worth $2,051,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HBAN. Empowered Funds LLC lifted its holdings in shares of Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after purchasing an additional 1,366 shares in the last quarter. Woodline Partners LP raised its position in Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after buying an additional 35,574 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Huntington Bancshares by 9.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 12,055 shares of the bank’s stock valued at $202,000 after acquiring an additional 1,004 shares during the period. Sagespring Wealth Partners LLC boosted its holdings in shares of Huntington Bancshares by 7.4% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 21,090 shares of the bank’s stock valued at $353,000 after acquiring an additional 1,446 shares during the last quarter. Finally, Generali Asset Management SPA SGR grew its stake in shares of Huntington Bancshares by 974.9% in the second quarter. Generali Asset Management SPA SGR now owns 86,596 shares of the bank’s stock worth $1,451,000 after acquiring an additional 78,540 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 2,481 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the sale, the insider directly owned 71,566 shares in the company, valued at $1,273,874.80. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of Huntington Bancshares stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the transaction, the vice president owned 42,398 shares in the company, valued at approximately $802,594.14. This trade represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 114,732 shares of company stock worth $1,923,233 in the last 90 days. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HBAN shares. Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Truist Financial increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 26th. National Bank Financial set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th. DA Davidson reiterated a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.60.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $17.26 on Friday. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $19.45. The stock’s fifty day moving average is $17.84 and its 200 day moving average is $16.99. The stock has a market cap of $27.18 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

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

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 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.