Paradigm Asset Management Co. LLC Takes $1.77 Million Position in Huntington Bancshares Incorporated $HBAN

Paradigm Asset Management Co. LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 2nd quarter, Holdings Channel reports. The firm purchased 105,700 shares of the bank’s stock, valued at approximately $1,772,000.

Several other large investors have also modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its holdings in Huntington Bancshares by 26.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 167,515 shares of the bank’s stock valued at $2,808,000 after purchasing an additional 35,014 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in Huntington Bancshares by 43.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 94,979 shares of the bank’s stock valued at $1,592,000 after buying an additional 28,739 shares during the period. Shell Asset Management Co. grew its stake in Huntington Bancshares by 58.7% during the second quarter. Shell Asset Management Co. now owns 200,595 shares of the bank’s stock worth $3,362,000 after buying an additional 74,220 shares during the period. Czech National Bank increased its position in shares of Huntington Bancshares by 6.6% in the second quarter. Czech National Bank now owns 356,096 shares of the bank’s stock worth $5,968,000 after acquiring an additional 22,190 shares in the last quarter. Finally, Trinity Financial Advisors LLC lifted its holdings in shares of Huntington Bancshares by 1,497.1% during the 2nd quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank’s stock valued at $4,853,000 after acquiring an additional 268,933 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the sale, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Inglis acquired 6,506 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average price of $15.30 per share, with a total value of $99,541.80. Following the transaction, the director directly owned 89,831 shares in the company, valued at approximately $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.69 on Friday. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01. The business has a 50 day simple moving average of $16.66 and a 200-day simple moving average of $16.35. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The company had revenue of $469.00 million for the quarter. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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

Analysts Set New Price Targets

HBAN has been the subject of several recent research reports. Zacks Research upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Citigroup raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, September 19th. Raymond James Financial restated a “strong-buy” rating and issued a $20.00 price target (down previously from $21.00) on shares of Huntington Bancshares in a report on Monday, October 20th. Morgan Stanley increased their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.66.

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.