4,961,759 Shares in Huntington Bancshares Incorporated $HBAN Acquired by Junto Capital Management LP

Junto Capital Management LP bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,961,759 shares of the bank’s stock, valued at approximately $85,690,000. Huntington Bancshares accounts for about 1.8% of Junto Capital Management LP’s investment portfolio, making the stock its 18th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Altrius Capital Management Inc bought a new position in Huntington Bancshares during the third quarter worth $4,894,000. FineMark National Bank & Trust grew its holdings in Huntington Bancshares by 59.2% during the 2nd quarter. FineMark National Bank & Trust now owns 175,144 shares of the bank’s stock worth $2,935,000 after acquiring an additional 65,144 shares during the period. Vanguard Group Inc. grew its holdings in Huntington Bancshares by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after acquiring an additional 680,601 shares during the period. Midwest Trust Co raised its position in shares of Huntington Bancshares by 12.7% in the 3rd quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock worth $26,095,000 after acquiring an additional 170,240 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at about $3,746,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $15.21 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $17.53 and a two-hundred day simple moving average of $17.03. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The firm has a market capitalization of $30.98 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the prior year, the business earned $0.34 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.1%. Huntington Bancshares’s payout ratio is 44.60%.

Insider Activity

In related news, VP Brendan A. Lawlor sold 17,455 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the completion of the sale, the vice president owned 42,398 shares in the company, valued at approximately $802,594.14. This represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary Torgow purchased 14,200 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average cost of $17.81 per share, with a total value of $252,902.00. Following the completion of the transaction, the director directly owned 943,341 shares in the company, valued at $16,800,903.21. The trade was a 1.53% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 27,700 shares of company stock worth $540,401 and sold 33,285 shares worth $627,009. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their target price on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, January 23rd. Zacks Research lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Evercore assumed coverage on shares of Huntington Bancshares in a research report on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 price objective for the company. Stephens lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

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.