Federated Hermes Inc. Acquires 956,933 Shares of Huntington Bancshares Incorporated $HBAN

Federated Hermes Inc. increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,292,946 shares of the bank’s stock after acquiring an additional 956,933 shares during the quarter. Huntington Bancshares comprises about 0.6% of Federated Hermes Inc.’s investment portfolio, making the stock its 28th biggest holding. Federated Hermes Inc.’s holdings in Huntington Bancshares were worth $367,729,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. MTM Investment Management LLC bought a new position in shares of Huntington Bancshares during the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $30,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter worth approximately $31,000. First Horizon Corp bought a new position in Huntington Bancshares during the 3rd quarter valued at approximately $36,000. Finally, Root Financial Partners LLC purchased a new position in Huntington Bancshares during the third quarter valued at $44,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $17.43 on Wednesday. The firm’s 50-day moving average price is $17.36 and its 200-day moving average price is $16.87. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.91. The company has a market cap of $27.45 billion, a PE ratio of 12.54, a PEG ratio of 0.70 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the company earned $0.34 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 2,481 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $17.80, for a total transaction of $44,161.80. Following the completion of the sale, the insider directly owned 71,566 shares in the company, valued at $1,273,874.80. The trade was a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Helga Houston sold 64,587 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the completion of the transaction, the insider owned 534,640 shares in the company, valued at $8,222,763.20. This trade represents a 10.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,863 shares of company stock valued at $1,581,634 over the last ninety days. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen raised their price target on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Jefferies Financial Group increased their price objective on shares of Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Evercore ISI started coverage on shares of Huntington Bancshares in a research note on Tuesday, October 21st. They set an “outperform” rating and a $18.00 price objective for the company. Truist Financial upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wall Street Zen downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $20.11.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.