Ballentine Partners LLC Acquires 2,771 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Ballentine Partners LLC increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,848 shares of the bank’s stock after purchasing an additional 2,771 shares during the period. Ballentine Partners LLC’s holdings in Huntington Bancshares were worth $277,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Diversified Trust Co bought a new stake in Huntington Bancshares in the 1st quarter valued at approximately $450,000. State of Alaska Department of Revenue lifted its stake in Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after acquiring an additional 780 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Huntington Bancshares by 73.0% in the 1st quarter. Valley National Advisers Inc. now owns 7,736 shares of the bank’s stock valued at $107,000 after acquiring an additional 3,265 shares in the last quarter. Norden Group LLC bought a new stake in Huntington Bancshares in the 1st quarter valued at approximately $551,000. Finally, First Trust Direct Indexing L.P. lifted its stake in Huntington Bancshares by 25.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 32,725 shares of the bank’s stock valued at $457,000 after acquiring an additional 6,564 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on HBAN. DA Davidson boosted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays boosted their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Jefferies Financial Group lowered their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Argus boosted their price target 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 investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.03.

Huntington Bancshares Stock Performance

HBAN opened at $15.77 on Tuesday. The business has a fifty day simple moving average of $14.78 and a 200 day simple moving average of $14.01. The company has a market capitalization of $22.90 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. Huntington Bancshares Incorporated has a 1 year low of $9.43 and a 1 year high of $16.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the company posted $0.36 EPS. Research analysts expect that Huntington Bancshares Incorporated will post 1.2 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.93%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Activity at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

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.