ProShare Advisors LLC Buys 34,728 Shares of Huntington Bancshares Incorporated $HBAN

ProShare Advisors LLC grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 389,988 shares of the bank’s stock after purchasing an additional 34,728 shares during the quarter. ProShare Advisors LLC’s holdings in Huntington Bancshares were worth $6,766,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $26,000. South Plains Financial Inc. raised its holdings in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares in the last quarter. Accredited Wealth Management LLC raised its holdings in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares in the last quarter. AlphaCore Capital LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $33,000. Finally, Root Financial Partners LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $44,000. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Royal Bank Of Canada cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, UBS Group set a $21.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

Huntington Bancshares Stock Up 0.4%

NASDAQ:HBAN opened at $15.92 on Friday. The company has a market cap of $32.27 billion, a PE ratio of 12.25, a P/E/G ratio of 0.73 and a beta of 0.96. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $15.97 and its two-hundred day moving average is $16.74.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the firm earned $0.34 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is 47.69%.

Insider Activity

In other news, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the sale, the insider directly owned 83,819 shares of the company’s stock, valued at $1,299,194.50. This represents a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the sale, the vice president directly owned 481,676 shares in the company, valued at $7,360,009.28. This trade represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired 25,000 shares of company stock valued at $503,822 in the last ninety days. Insiders own 0.67% of the company’s stock.

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.