OLD National Bancorp IN Takes $410,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

OLD National Bancorp IN acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, HoldingsChannel reports. The firm acquired 32,259 shares of the bank’s stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Boston Partners grew its stake in Huntington Bancshares by 33.0% during the third quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after buying an additional 7,271,405 shares during the period. Victory Capital Management Inc. grew its stake in Huntington Bancshares by 23.7% during the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after buying an additional 3,438,552 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Huntington Bancshares during the third quarter worth approximately $20,004,000. AQR Capital Management LLC grew its stake in Huntington Bancshares by 1,652.2% during the third quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock worth $18,786,000 after buying an additional 1,703,245 shares during the period. Finally, Barclays PLC grew its stake in Huntington Bancshares by 31.6% during the third quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock worth $56,117,000 after buying an additional 1,296,978 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 1.0 %

Huntington Bancshares stock opened at $13.76 on Thursday. The company has a 50-day simple moving average of $13.33 and a 200-day simple moving average of $12.22. The firm has a market capitalization of $19.95 billion, a P/E ratio of 12.40, a P/E/G ratio of 2.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $9.13 and a one year high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HBAN. Citigroup boosted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, February 14th. Stephens reissued an “equal weight” rating and set a $15.00 target price on shares of Huntington Bancshares in a research report on Monday. Royal Bank of Canada upped their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $15.50 in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $15.17.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The disclosure for this sale can be found here. In the last three months, insiders sold 102,241 shares of company stock valued at $1,360,359. 0.89% of the stock is owned by 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.