Saranac Partners Ltd Acquires 54,427 Shares of Huntington Bancshares Incorporated $HBAN

Saranac Partners Ltd lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,645 shares of the bank’s stock after purchasing an additional 54,427 shares during the period. Huntington Bancshares comprises approximately 2.3% of Saranac Partners Ltd’s investment portfolio, making the stock its 22nd largest holding. Saranac Partners Ltd’s holdings in Huntington Bancshares were worth $5,908,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 acquiring an additional 14,338,222 shares during the period. Junto Capital Management LP bought a new position in shares of Huntington Bancshares in the third quarter worth $85,690,000. Victory Capital Management Inc. boosted its holdings in shares of Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after acquiring an additional 4,640,302 shares during the period. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at $73,333,000. Finally, Squarepoint Ops LLC raised its stake in shares of Huntington Bancshares by 48.0% during the 3rd quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank’s stock valued at $167,119,000 after purchasing an additional 3,138,669 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.46 on Wednesday. The firm has a market capitalization of $31.34 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.72 and a beta of 0.96. 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’s 50-day simple moving average is $15.97 and its two-hundred day simple moving average is $16.74. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

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

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.0%. Huntington Bancshares’s payout ratio is presently 47.69%.

Insider Activity at Huntington Bancshares

In related news, Director Gary Torgow acquired 14,200 shares of the stock in a transaction dated Thursday, February 19th. The shares were purchased at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the transaction, the director owned 943,341 shares in the company, valued at $16,800,903.21. This represents a 1.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James D. Rollins III acquired 3,029 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were bought at an average cost of $21.05 per share, with a total value of $63,760.45. Following the completion of the acquisition, the director directly owned 9,500 shares in the company, valued at $199,975. The trade was a 46.81% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 39,200 shares of company stock valued at $756,724. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HBAN shares. Wolfe Research dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Argus upped their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods lowered their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a report on Friday, January 23rd. DA Davidson cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Finally, Evercore reduced their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

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.