Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Position Lifted by Cardinal Capital Management

Cardinal Capital Management lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 166,504 shares of the bank’s stock after purchasing an additional 26,548 shares during the quarter. Cardinal Capital Management’s holdings in Huntington Bancshares were worth $2,345,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of HBAN. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the first quarter valued at $29,000. Brookstone Capital Management purchased a new stake in shares of Huntington Bancshares during the first quarter valued at $9,712,000. Mcdonald Partners LLC lifted its holdings in shares of Huntington Bancshares by 19.0% during the first quarter. Mcdonald Partners LLC now owns 95,090 shares of the bank’s stock valued at $1,327,000 after purchasing an additional 15,172 shares during the last quarter. Lloyd Advisory Services LLC. lifted its holdings in shares of Huntington Bancshares by 356.7% during the first quarter. Lloyd Advisory Services LLC. now owns 65,060 shares of the bank’s stock valued at $908,000 after purchasing an additional 50,813 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Huntington Bancshares by 16.0% during the first quarter. Ballentine Partners LLC now owns 17,940 shares of the bank’s stock valued at $250,000 after purchasing an additional 2,475 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the completion of the transaction, the insider now owns 65,195 shares in the company, valued at approximately $902,298.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the completion of the transaction, the insider now owns 65,195 shares in the company, valued at approximately $902,298.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock worth $2,148,623 in the last 90 days. 0.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on HBAN. Evercore ISI reduced their price objective on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley dropped their target price on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Piper Sandler lowered Huntington Bancshares from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $13.50 to $11.50 in a research report on Friday, June 14th. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.03.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded up $0.07 during mid-day trading on Thursday, reaching $12.78. The stock had a trading volume of 14,629,474 shares, compared to its average volume of 16,906,283. The firm’s 50 day simple moving average is $13.43 and its 200 day simple moving average is $13.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $14.30. The firm has a market cap of $18.52 billion, a PE ratio of 11.47, a P/E/G ratio of 2.41 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company earned $0.38 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.85%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Huntington Bancshares 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.