Millstone Evans Group LLC Buys New Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Millstone Evans Group LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, Holdings Channel.com reports. The firm bought 6,028 shares of the bank’s stock, valued at approximately $98,000.

Several other hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after purchasing an additional 2,218,020 shares during the last quarter. Geode Capital Management LLC lifted its stake in Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after purchasing an additional 473,893 shares during the last quarter. FMR LLC lifted its stake in Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Huntington Bancshares by 7.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several research reports. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Piper Sandler cut their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Morgan Stanley cut their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $15.02 on Friday. The company’s 50 day simple moving average is $16.23 and its 200 day simple moving average is $16.12. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the business earned $0.27 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.13%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.