DRW Securities LLC Buys New Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

DRW Securities LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 287,009 shares of the bank’s stock, valued at approximately $4,670,000.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its position in Huntington Bancshares by 1.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock worth $917,000 after acquiring an additional 800 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Huntington Bancshares by 13.7% in the third quarter. Quantinno Capital Management LP now owns 117,036 shares of the bank’s stock valued at $1,720,000 after purchasing an additional 14,089 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Huntington Bancshares by 131.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 37,591 shares of the bank’s stock valued at $553,000 after purchasing an additional 21,357 shares in the last quarter. MML Investors Services LLC grew its holdings in Huntington Bancshares by 1.8% during the 3rd quarter. MML Investors Services LLC now owns 447,472 shares of the bank’s stock valued at $6,578,000 after purchasing an additional 8,025 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Huntington Bancshares by 7.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 445,637 shares of the bank’s stock worth $6,551,000 after buying an additional 30,830 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HBAN. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Truist Financial raised their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Barclays upped their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.94.

Insider Transactions at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,781 shares of company stock valued at $1,631,151. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $12.49 on Wednesday. The business has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $16.09. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.155 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.96%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

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.