Citigroup Inc. Increases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Citigroup Inc. boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.9% during the third quarter, Holdings Channel.com reports. The fund owned 9,084,856 shares of the bank’s stock after acquiring an additional 168,186 shares during the period. Citigroup Inc.’s holdings in Huntington Bancshares were worth $133,547,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in Huntington Bancshares during the first quarter worth approximately $378,000. Bessemer Group Inc. increased its stake in Huntington Bancshares by 21.2% in the first quarter. Bessemer Group Inc. now owns 17,241 shares of the bank’s stock valued at $241,000 after purchasing an additional 3,010 shares during the last quarter. Pitcairn Co. lifted its position in Huntington Bancshares by 7.8% during the first quarter. Pitcairn Co. now owns 16,934 shares of the bank’s stock worth $236,000 after buying an additional 1,230 shares during the period. CreativeOne Wealth LLC acquired a new stake in Huntington Bancshares in the 1st quarter worth about $249,000. Finally, Toronto Dominion Bank grew its holdings in Huntington Bancshares by 2.1% in the first quarter. Toronto Dominion Bank now owns 819,314 shares of the bank’s stock valued at $11,429,000 after purchasing an additional 17,086 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. DA Davidson lifted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. Baird R W lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Barclays raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $16.26.

Huntington Bancshares Price Performance

HBAN opened at $17.89 on Friday. Huntington Bancshares Incorporated has a twelve month low of $10.73 and a twelve month high of $17.98. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.52 and a beta of 1.03. The company has a fifty day simple moving average of $15.72 and a 200 day simple moving average of $14.46.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $0.36 earnings per share. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Activity

In related news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,699 shares of company stock worth $757,356. 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.