Larson Financial Group LLC Boosts Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Larson Financial Group LLC lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,086 shares of the bank’s stock after purchasing an additional 12,957 shares during the quarter. Larson Financial Group LLC’s holdings in Huntington Bancshares were worth $2,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners lifted its stake in shares of Huntington Bancshares by 20.4% in the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. Point72 Asset Management L.P. raised its position in Huntington Bancshares by 194.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after purchasing an additional 2,116,839 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after purchasing an additional 1,522,767 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Huntington Bancshares by 531.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after purchasing an additional 968,331 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 1.5 %

HBAN opened at $17.89 on Monday. The firm has a market cap of $25.99 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.57 and a beta of 1.03. Huntington Bancshares Incorporated has a 12 month low of $10.73 and a 12 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 stock has a 50-day moving average of $15.72 and a 200 day moving average of $14.47.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value 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 trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 over the last 90 days. Insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent analyst reports. DA Davidson upped their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Evercore ISI upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Piper Sandler upped their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $16.26.

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.