Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 131.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,591 shares of the bank’s stock after acquiring an additional 21,357 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Huntington Bancshares were worth $553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Heritage Wealth Management Inc. purchased a new stake in shares of Huntington Bancshares in the 2nd quarter valued at approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Huntington Bancshares by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares during the period. Petiole USA ltd purchased a new stake in shares of Huntington Bancshares in the third quarter valued at $3,454,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Huntington Bancshares by 40.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after buying an additional 55,865 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after buying an additional 2,363,988 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Barclays boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the 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 sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock worth $757,356 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 1.3 %

Shares of Huntington Bancshares stock opened at $17.17 on Friday. Huntington Bancshares Incorporated has a 52-week low of $11.77 and a 52-week high of $18.44. The firm has a market capitalization of $24.94 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 3.51 and a beta of 1.06. 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 company’s fifty day moving average price is $16.60 and its two-hundred day moving average price is $14.82.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.36 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.21 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 issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.61%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

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.