Cadence Bank Purchases 2,838 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cadence Bank increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 21,269 shares of the bank’s stock after purchasing an additional 2,838 shares during the period. Cadence Bank’s holdings in Huntington Bancshares were worth $313,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of HBAN. Asset Dedication LLC boosted its stake in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares during the period. Peoples Bank KS acquired a new stake in Huntington Bancshares during the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at $31,000. Fortitude Family Office LLC bought a new position in Huntington Bancshares during the third quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 directly owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. Corporate insiders own 0.92% of the company’s stock.

Huntington Bancshares Trading Down 0.8 %

Shares of Huntington Bancshares stock opened at $18.00 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $18.44. The company has a market capitalization of $26.15 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 3.63 and a beta of 1.03. The firm’s 50-day moving average price is $15.86 and its two-hundred day moving average price is $14.53.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (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 business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $0.36 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.44%. Huntington Bancshares’s payout ratio is 59.62%.

Analyst Ratings Changes

HBAN has been the subject of a number of research reports. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. The Goldman Sachs Group raised their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley upped their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Piper Sandler increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Finally, Evercore ISI boosted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.62.

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.