Tounjian Advisory Partners LLC Buys New Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Tounjian Advisory Partners LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, HoldingsChannel.com reports. The firm purchased 95,586 shares of the bank’s stock, valued at approximately $1,435,000.

Other large investors have also made changes to their positions in the company. Creative Capital Management Investments LLC grew its holdings in shares of Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after purchasing an additional 1,578 shares during the period. Midwest Capital Advisors LLC purchased a new stake in Huntington Bancshares during the fourth quarter worth approximately $37,000. Transce3nd LLC purchased a new stake in Huntington Bancshares during the fourth quarter worth approximately $48,000. Curat Global LLC acquired a new stake in shares of Huntington Bancshares in the first quarter worth $52,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after acquiring an additional 702 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HBAN. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Cowen initiated coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. Morgan Stanley lowered their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup cut their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.83.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $16.22 on Monday. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The firm has a market capitalization of $23.69 billion, a PE ratio of 13.19, a P/E/G ratio of 1.33 and a beta of 0.92. The company’s 50 day simple moving average is $14.69 and its 200 day simple moving average is $15.82. 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 (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the firm earned $0.27 EPS. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares announced that its board has initiated a share buyback plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 70,417 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president now directly owns 326,456 shares of the company’s stock, valued at $4,469,182.64. This trade represents a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is owned by insiders.

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.