Nicholas Hoffman & Company LLC. Buys New Shares in Huntington Bancshares Incorporated $HBAN

Nicholas Hoffman & Company LLC. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 708,066 shares of the bank’s stock, valued at approximately $11,081,000. Huntington Bancshares makes up about 0.3% of Nicholas Hoffman & Company LLC.’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after buying an additional 14,338,222 shares during the period. State Street Corp increased its stake in shares of Huntington Bancshares by 4.7% during the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after buying an additional 3,438,501 shares during the period. Wellington Management Group LLP raised its holdings in Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares in the last quarter. Boston Partners lifted its stake in Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after acquiring an additional 2,363,905 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Huntington Bancshares by 6.6% in the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after acquiring an additional 3,908,927 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 33,500 shares of company stock valued at $617,542 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $18.01 on Wednesday. The stock has a market cap of $36.51 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The stock has a 50 day moving average of $16.65 and a two-hundred day moving average of $16.90. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the company posted $0.34 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were paid a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. Huntington Bancshares’s payout ratio is currently 47.69%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HBAN. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research report on Monday. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, April 23rd. Wolfe Research dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. UBS Group lifted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Truist Financial lowered their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

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.