Curat Global LLC Takes $52,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Curat Global LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,442 shares of the bank’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Carlson Capital Management lifted its holdings in shares of Huntington Bancshares by 0.4% in the 4th quarter. Carlson Capital Management now owns 163,575 shares of the bank’s stock valued at $2,661,000 after purchasing an additional 692 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Huntington Bancshares by 6.0% in the 4th quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock valued at $200,000 after purchasing an additional 699 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after purchasing an additional 702 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock valued at $326,000 after purchasing an additional 762 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Huntington Bancshares by 7.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank’s stock valued at $195,000 after purchasing an additional 856 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HBAN shares. Morgan Stanley reduced their target price on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Truist Financial reduced their price objective on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Jefferies Financial Group started coverage on Huntington Bancshares in a research note on Wednesday, May 21st. They set a “buy” rating and a $20.00 price objective for the company. Finally, Keefe, Bruyette & Woods reduced their price objective on Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $17.83.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.22 on Friday. The business has a 50 day moving average price of $14.69 and a 200 day moving average price of $15.84. The company has a market capitalization of $23.69 billion, a P/E ratio of 13.19, a PEG ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business posted $0.27 earnings per share. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Huntington Bancshares announced that its Board of Directors has approved a share repurchase plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. This trade represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock worth $4,464,105 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

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.