Summit Global Investments Decreases Stake in Huntington Bancshares Incorporated $HBAN

Summit Global Investments cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 75.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,104 shares of the bank’s stock after selling 69,918 shares during the period. Summit Global Investments’ holdings in Huntington Bancshares were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Family Legacy Financial Solutions LLC purchased a new stake in Huntington Bancshares during the second quarter worth approximately $25,000. MTM Investment Management LLC purchased a new stake in shares of Huntington Bancshares during the 2nd quarter worth approximately $25,000. Quarry LP boosted its holdings in shares of Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after buying an additional 814 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at $30,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Huntington Bancshares by 74.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,794 shares of the bank’s stock valued at $42,000 after acquiring an additional 1,195 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Helga Houston sold 64,587 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $15.38, for a total value of $993,348.06. Following the transaction, the insider directly owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. This trade represents a 10.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Inglis acquired 6,506 shares of Huntington Bancshares stock in a transaction on Tuesday, November 4th. The shares were bought at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the purchase, the director owned 89,831 shares of the company’s stock, valued at $1,374,414.30. This represents a 7.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 112,103 shares of company stock valued at $1,833,558 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HBAN. Truist Financial increased 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. Keefe, Bruyette & Woods increased their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. raised their price objective 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. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Deutsche Bank Aktiengesellschaft increased 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 Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.64.

Huntington Bancshares Trading Up 1.7%

NASDAQ:HBAN opened at $16.18 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.33. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $16.18 and a 200-day simple moving average of $16.45. The company has a market capitalization of $23.61 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, June 11th. The bank reported $0.28 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, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 43.36%.

About Huntington Bancshares

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.