Spirepoint Private Client LLC Invests $402,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Spirepoint Private Client LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 28,853 shares of the bank’s stock, valued at approximately $402,000.

A number of other large investors have also added to or reduced their stakes in HBAN. Boston Partners raised its position in shares of Huntington Bancshares by 59.3% during the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after buying an additional 17,365,446 shares in the last quarter. Norges Bank acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $206,703,000. KBC Group NV increased its position in shares of Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares in the last quarter. Scout Investments Inc. purchased a new position in shares of Huntington Bancshares in the first quarter worth approximately $35,428,000. Finally, Bank of Nova Scotia increased its position in shares of Huntington Bancshares by 641.5% in the fourth quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock worth $35,301,000 after acquiring an additional 2,401,067 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Kendall A. Kowalski sold 15,948 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $13.47, for a total value of $214,819.56. Following the completion of the sale, the insider now owns 21,102 shares of the company’s stock, valued at $284,243.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,948 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total transaction of $214,819.56. Following the completion of the transaction, the insider now owns 21,102 shares of the company’s stock, valued at $284,243.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,829 shares of company stock worth $2,148,623. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 3.9 %

Shares of HBAN traded up $0.56 during mid-day trading on Friday, hitting $14.86. 29,332,491 shares of the company’s stock were exchanged, compared to its average volume of 20,216,596. The company has a market cap of $21.54 billion, a PE ratio of 13.39, a P/E/G ratio of 5.89 and a beta of 1.06. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $14.98. The company has a 50-day simple moving average of $13.36 and a 200 day simple moving average of $13.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period last year, the business earned $0.35 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.17 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.17%. Huntington Bancshares’s payout ratio is presently 55.86%.

Analysts Set New Price Targets

Several analysts recently commented on HBAN shares. StockNews.com cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group reduced their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Evercore ISI reduced their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Morgan Stanley reduced their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.93.

Huntington Bancshares 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.