Rockland Trust Co. Acquires 2,868 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Rockland Trust Co. increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 74,008 shares of the bank’s stock after buying an additional 2,868 shares during the period. Rockland Trust Co.’s holdings in Huntington Bancshares were worth $1,088,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in HBAN. Campbell & CO Investment Adviser LLC bought a new position in Huntington Bancshares in the 4th quarter valued at approximately $468,000. NEOS Investment Management LLC raised its stake in shares of Huntington Bancshares by 31.2% in the fourth quarter. NEOS Investment Management LLC now owns 20,547 shares of the bank’s stock worth $261,000 after purchasing an additional 4,887 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Huntington Bancshares by 23.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 14,377 shares of the bank’s stock valued at $183,000 after buying an additional 2,758 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in Huntington Bancshares during the 4th quarter worth $168,000. Finally, Royal London Asset Management Ltd. lifted its position in shares of Huntington Bancshares by 2.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,030,291 shares of the bank’s stock valued at $13,105,000 after purchasing an additional 24,802 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HBAN. Keefe, Bruyette & Woods cut their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Citigroup upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird cut Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Friday, July 26th. Finally, Piper Sandler increased their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.71.

Huntington Bancshares Stock Performance

HBAN stock traded up $0.45 during midday trading on Friday, reaching $14.62. 12,711,631 shares of the company’s stock traded hands, compared to its average volume of 16,302,675. The stock has a market cap of $21.19 billion, a P/E ratio of 13.17, a PEG ratio of 3.07 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock’s 50-day moving average is $14.32 and its 200 day moving average is $13.81. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Insider Activity at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares in the company, valued at $167,331.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,622 shares of company stock worth $1,762,904. Company insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.