MCF Advisors LLC Buys 1,506 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

MCF Advisors LLC raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 51.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,425 shares of the bank’s stock after acquiring an additional 1,506 shares during the period. MCF Advisors LLC’s holdings in Huntington Bancshares were worth $62,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of HBAN. Park Avenue Securities LLC increased its holdings in shares of Huntington Bancshares by 1.3% in the first quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after purchasing an additional 794 shares during the last quarter. Mather Group LLC. increased its position in Huntington Bancshares by 5.8% in the fourth quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after purchasing an additional 837 shares during the last quarter. Financial Advocates Investment Management raised its stake in Huntington Bancshares by 5.9% during the fourth quarter. Financial Advocates Investment Management now owns 15,325 shares of the bank’s stock valued at $195,000 after purchasing an additional 856 shares in the last quarter. Blue Trust Inc. raised its position in shares of Huntington Bancshares by 12.0% during the 4th quarter. Blue Trust Inc. now owns 8,460 shares of the bank’s stock valued at $108,000 after buying an additional 904 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in Huntington Bancshares by 23.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 5,021 shares of the bank’s stock worth $64,000 after acquiring an additional 949 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In other news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares in the company, valued at approximately $5,241,562.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Huntington Bancshares news, VP Rajeev Syal sold 27,265 shares of Huntington Bancshares stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $13.51, for a total value of $368,350.15. Following the transaction, the vice president now owns 397,173 shares in the company, valued at $5,365,807.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Insiders sold a total of 157,829 shares of company stock valued at $2,148,623 over the last three months. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $13.18 on Friday. The company has a market capitalization of $19.10 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.49 and a beta of 1.08. The company’s 50-day simple moving average is $13.42 and its two-hundred day simple moving average is $13.15. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $14.30. 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 announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.70%. Huntington Bancshares’s payout ratio is currently 55.86%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of recent research reports. UBS Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Piper Sandler cut shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $13.50 to $11.50 in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.03.

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.