SummerHaven Investment Management LLC Purchases Shares of 58,559 Huntington Bancshares Incorporated $HBAN

SummerHaven Investment Management LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 58,559 shares of the bank’s stock, valued at approximately $1,016,000.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares in the last quarter. Boston Partners increased its stake in Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after acquiring an additional 861,263 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after acquiring an additional 4,640,302 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Huntington Bancshares by 4.7% in the 3rd quarter. Federated Hermes Inc. now owns 21,292,946 shares of the bank’s stock valued at $367,729,000 after acquiring an additional 956,933 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the transaction, the insider owned 83,819 shares in the company, valued at $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James D. Rollins III bought 8,471 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the transaction, the director owned 11,500 shares of the company’s stock, valued at approximately $207,115. This represents a 279.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 39,200 shares of company stock valued at $756,724 and have sold 93,156 shares valued at $1,489,372. 0.67% of the stock is owned by insiders.

Huntington Bancshares Stock Down 2.7%

HBAN stock opened at $16.19 on Friday. The firm has a market cap of $32.82 billion, a PE ratio of 12.45, a P/E/G ratio of 0.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The firm’s fifty day moving average is $16.17 and its 200 day moving average is $16.75. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year 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 the consensus estimate 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 business earned $0.34 earnings per share. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, February 4th. Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Jefferies Financial Group upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Argus raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. One research analyst has 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

Huntington Bancshares Company 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.