Huntington Bancshares Incorporated $HBAN Shares Purchased by M&G PLC

M&G PLC raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 458,396 shares of the bank’s stock after acquiring an additional 39,644 shares during the quarter. M&G PLC’s holdings in Huntington Bancshares were worth $6,876,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of Huntington Bancshares by 6.1% during the second quarter. Henrickson Nauta Wealth Advisors Inc. now owns 10,613 shares of the bank’s stock worth $190,000 after purchasing an additional 608 shares during the period. Vestor Capital LLC increased its holdings in Huntington Bancshares by 13.0% in the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank’s stock valued at $88,000 after purchasing an additional 648 shares during the period. Rehmann Capital Advisory Group increased its holdings in Huntington Bancshares by 5.9% in the second quarter. Rehmann Capital Advisory Group now owns 12,151 shares of the bank’s stock valued at $215,000 after purchasing an additional 679 shares during the period. Johnson Financial Group Inc. raised its position in Huntington Bancshares by 48.8% during the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock worth $34,000 after purchasing an additional 707 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Huntington Bancshares by 10.1% during the 3rd quarter. Versant Capital Management Inc now owns 7,693 shares of the bank’s stock worth $117,000 after purchasing an additional 708 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.84 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $15.81 and its two-hundred day simple moving average is $16.63. Huntington Bancshares Incorporated has a 12 month low of $14.82 and a 12 month high of $19.45. The stock has a market capitalization of $32.00 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company posted $0.41 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be issued a $0.1550 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s payout ratio is presently 51.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Argus reduced their price target on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Wolfe Research downgraded Huntington Bancshares from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, October 27th. Truist Financial lowered their price objective on Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Stephens cut their price objective on Huntington Bancshares from $19.00 to $18.00 in a research note on Tuesday, September 22nd. Finally, Bank of America downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $18.50 in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Insiders Place Their Bets

In other Huntington Bancshares news, Director Gary Torgow purchased 12,700 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were purchased at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the acquisition, the director owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James D. Rollins III acquired 14,000 shares of Huntington Bancshares stock in a transaction dated Monday, October 26th. The shares were bought at an average cost of $18.12 per share, with a total value of $253,680.00. Following the transaction, the director owned 15,500 shares in the company, valued at approximately $280,860. This trade represents a 933.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.67% of the stock is currently owned by corporate insiders.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus. Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.