NEOS Investment Management LLC Buys 64,495 Shares of Huntington Bancshares Incorporated $HBAN

NEOS Investment Management LLC boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 47.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,506 shares of the bank’s stock after acquiring an additional 64,495 shares during the period. NEOS Investment Management LLC’s holdings in Huntington Bancshares were worth $3,480,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of Huntington Bancshares in the 2nd quarter valued at $30,000. Grey Fox Wealth Advisors LLC bought a new stake in Huntington Bancshares in the third quarter valued at about $31,000. First Horizon Corp acquired a new position in Huntington Bancshares in the third quarter valued at about $36,000. Finally, Root Financial Partners LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $44,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Down 0.2%

HBAN stock opened at $17.85 on Friday. The company has a market cap of $28.11 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $19.45. The business has a 50-day simple moving average of $17.86 and a 200 day simple moving average of $17.03.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brantley J. Standridge sold 5,830 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares in the company, valued at approximately $6,271,718.64. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 50,145 shares of company stock worth $929,885 over the last quarter. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HBAN. JPMorgan Chase & Co. boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, February 9th. UBS Group set a $21.00 target price on Huntington Bancshares in a report on Wednesday, February 4th. Jefferies Financial Group increased their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Wolfe Research restated an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, January 7th. Finally, DA Davidson restated a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.