Concurrent Investment Advisors LLC Buys New Shares in Huntington Bancshares Incorporated $HBAN

Concurrent Investment Advisors LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 48,785 shares of the bank’s stock, valued at approximately $846,000.

A number of other large investors have also recently bought and sold shares of HBAN. Empowered Funds LLC increased its holdings in Huntington Bancshares by 5.0% in the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares in the last quarter. Woodline Partners LP lifted its stake in Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after buying an additional 35,574 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Huntington Bancshares by 8.3% during the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock worth $662,000 after buying an additional 3,023 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Huntington Bancshares by 6.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock worth $3,674,000 after buying an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Huntington Bancshares by 6.2% during the 2nd quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock worth $11,859,000 after buying an additional 41,156 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, April 24th. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, February 4th. Raymond James Financial lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research note on Friday, January 23rd. Argus upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, DA Davidson cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.63 on Friday. The company has a market cap of $33.87 billion, a P/E ratio of 12.79, a PEG ratio of 0.77 and a beta of 0.96. The company has a fifty day simple moving average of $16.23 and a 200 day simple moving average of $16.72. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 12-month low of $14.78 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the prior year, the company posted $0.34 earnings per share. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 65,530 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the sale, the vice president directly owned 481,676 shares of the company’s stock, valued at $7,360,009.28. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James D. Rollins III bought 8,471 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the acquisition, the director directly owned 11,500 shares of the company’s stock, valued at approximately $207,115. This represents a 279.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 39,200 shares of company stock worth $756,724 and have sold 98,986 shares worth $1,600,958. 0.67% of the stock is owned by insiders.

Huntington Bancshares Profile

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.