Huntington Bancshares Incorporated $HBAN Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.3% during the second quarter, Holdings Channel.com reports. The firm owned 68,039 shares of the bank’s stock after purchasing an additional 12,871 shares during the quarter. Convergence Investment Partners LLC’s holdings in Huntington Bancshares were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in HBAN. AQR Capital Management LLC boosted its holdings in Huntington Bancshares by 274.9% in the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock valued at $157,292,000 after purchasing an additional 7,889,004 shares in the last quarter. Invesco Ltd. boosted its holdings in Huntington Bancshares by 8.7% in the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock valued at $858,371,000 after purchasing an additional 4,586,607 shares in the last quarter. Amundi boosted its holdings in Huntington Bancshares by 26.2% in the 1st quarter. Amundi now owns 22,011,639 shares of the bank’s stock valued at $330,395,000 after purchasing an additional 4,576,432 shares in the last quarter. Nuveen LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $50,078,000. Finally, Deutsche Bank AG boosted its holdings in Huntington Bancshares by 47.7% in the 1st quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank’s stock valued at $133,145,000 after purchasing an additional 2,865,727 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $15.64 on Tuesday. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The stock’s 50 day moving average price is $17.00 and its 200 day moving average price is $16.24. The firm has a market cap of $22.82 billion, a P/E ratio of 10.94, a PEG ratio of 0.70 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The firm had revenue of $469.00 million for the quarter. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.0%. Huntington Bancshares’s dividend payout ratio is presently 43.36%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HBAN. Truist Financial lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. JPMorgan Chase & Co. boosted their price target on Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Raymond James Financial reissued a “strong-buy” rating and set a $20.00 price target (down previously from $21.00) on shares of Huntington Bancshares in a research note on Monday, October 20th. Finally, Jefferies Financial Group boosted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.76.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the sale, the executive vice president owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.89% of the company’s stock.

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.