Exchange Traded Concepts LLC Purchases 249,532 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Exchange Traded Concepts LLC lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6,617.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,303 shares of the bank’s stock after purchasing an additional 249,532 shares during the period. Exchange Traded Concepts LLC’s holdings in Huntington Bancshares were worth $3,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after buying an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. grew its stake in Huntington Bancshares by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after purchasing an additional 65,355 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Huntington Bancshares by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after purchasing an additional 561,565 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after purchasing an additional 1,838,019 shares during the period. Finally, Hsbc Holdings PLC grew its position in Huntington Bancshares by 9.5% during the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock valued at $85,940,000 after buying an additional 566,015 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on HBAN shares. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Morgan Stanley boosted their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Argus increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Piper Sandler upped their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock valued at $1,762,904 over the last 90 days. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.39 on Monday. The stock’s 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $13.87. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $15.43. The firm has a market capitalization of $22.35 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.77 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the firm posted $0.35 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.155 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.03%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 58.49%.

About Huntington Bancshares

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.