SG Americas Securities LLC Boosts Holdings in Huntington Bancshares Incorporated $HBAN

SG Americas Securities LLC lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 148.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,446,473 shares of the bank’s stock after purchasing an additional 2,655,287 shares during the period. SG Americas Securities LLC’s holdings in Huntington Bancshares were worth $69,587,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. MV Capital Management Inc. acquired a new stake in Huntington Bancshares during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares in the third quarter worth $26,000. South Plains Financial Inc. increased its position in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the period. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth $28,000. Finally, Accredited Wealth Management LLC raised its stake in shares of Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,322 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $17.05 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The firm’s 50 day moving average is $16.41 and its two-hundred day moving average is $16.87. The firm has a market capitalization of $34.56 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.77 and a beta of 0.94.

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

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

Insider Buying and Selling

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 33,500 shares of company stock worth $617,542 over the last quarter. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HBAN. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a report on Thursday, April 23rd. DA Davidson cut their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Jefferies Financial Group increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Stephens initiated coverage on Huntington Bancshares in a research note on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective for the company. Finally, Evercore reissued an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 12th. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

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.