Y Intercept Hong Kong Ltd Grows Position in Huntington Bancshares Incorporated $HBAN

Y Intercept Hong Kong Ltd boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 479.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 795,470 shares of the bank’s stock after buying an additional 658,269 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Huntington Bancshares were worth $13,801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sagespring Wealth Partners LLC lifted its holdings in shares of Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after purchasing an additional 587 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Huntington Bancshares by 12.6% during the fourth quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock valued at $95,000 after purchasing an additional 609 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Huntington Bancshares by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock valued at $292,000 after purchasing an additional 694 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Huntington Bancshares by 0.4% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 189,963 shares of the bank’s stock valued at $3,296,000 after purchasing an additional 700 shares in the last quarter. Finally, Glenmede Investment Management LP lifted its holdings in shares of Huntington Bancshares by 1.7% during the third quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank’s stock valued at $755,000 after purchasing an additional 728 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Up 1.8%

Huntington Bancshares stock opened at $17.52 on Friday. The stock has a market cap of $35.52 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The stock has a fifty day moving average of $16.29 and a 200 day moving average of $16.83.

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

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Analyst Ratings Changes

HBAN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. DA Davidson reduced their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Truist Financial reduced their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Morgan Stanley reduced their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Finally, Evercore reiterated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Insider Buying and Selling

In related news, Director James D. Rollins III purchased 4,798 shares of Huntington Bancshares stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at $203,000. This represents a 92.23% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 33,500 shares of company stock valued at $617,542 in the last three months. Corporate insiders own 0.67% of the company’s stock.

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.