Quest Partners LLC Purchases 21,878 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Quest Partners LLC lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1,093,900.0% during the third quarter, HoldingsChannel reports. The firm owned 21,880 shares of the bank’s stock after purchasing an additional 21,878 shares during the period. Quest Partners LLC’s holdings in Huntington Bancshares were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HBAN. Bessemer Group Inc. grew its holdings in shares of Huntington Bancshares by 21.2% in the first quarter. Bessemer Group Inc. now owns 17,241 shares of the bank’s stock worth $241,000 after purchasing an additional 3,010 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Huntington Bancshares by 251,152.2% in the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after purchasing an additional 173,295 shares during the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Huntington Bancshares by 102.5% in the first quarter. Mount Yale Investment Advisors LLC now owns 34,558 shares of the bank’s stock worth $482,000 after purchasing an additional 17,490 shares during the last quarter. SVB Wealth LLC grew its holdings in shares of Huntington Bancshares by 26.1% in the first quarter. SVB Wealth LLC now owns 21,954 shares of the bank’s stock worth $306,000 after purchasing an additional 4,539 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Huntington Bancshares by 12.7% in the first quarter. Janus Henderson Group PLC now owns 244,633 shares of the bank’s stock worth $3,411,000 after purchasing an additional 27,519 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of research reports. Barclays upped their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Piper Sandler upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Citigroup upped their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.26.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 in the last three months. 0.92% of the stock is owned by insiders.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $18.20 on Tuesday. The firm has a market capitalization of $26.44 billion, a P/E ratio of 17.50, a PEG ratio of 3.57 and a beta of 1.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average price of $15.79 and a 200 day moving average price of $14.50. Huntington Bancshares Incorporated has a 52 week low of $10.73 and a 52 week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the firm posted $0.36 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

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.