Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 24.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 128,396 shares of the bank’s stock after purchasing an additional 24,879 shares during the period. Assetmark Inc.’s holdings in Huntington Bancshares were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Partners boosted its holdings in shares of Huntington Bancshares by 20.4% in the first 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 in the last quarter. Victory Capital Management Inc. boosted its holdings in Huntington Bancshares by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after purchasing an additional 65,355 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after buying an additional 561,565 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Huntington Bancshares by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock valued at $85,940,000 after buying an additional 566,015 shares during the period. Finally, abrdn plc boosted its stake in shares of Huntington Bancshares by 3.9% in the third quarter. abrdn plc now owns 3,660,616 shares of the bank’s stock valued at $53,976,000 after buying an additional 137,032 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of recent analyst reports. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley boosted their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Argus boosted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.09.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.54 on Thursday. The firm’s 50-day moving average is $15.26 and its two-hundred day moving average is $14.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $25.48 billion, a P/E ratio of 16.87, a P/E/G ratio of 3.58 and a beta of 1.03. Huntington Bancshares Incorporated has a 12-month low of $10.55 and a 12-month high of $17.97.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $0.36 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.53%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by corporate insiders.

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.