Petiole USA ltd Invests $3.45 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Petiole USA ltd bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 235,000 shares of the bank's stock, valued at approximately $3,454,000. Huntington Bancshares makes up about 2.3% of Petiole USA ltd's investment portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of HBAN. Charles Schwab Investment Management Inc. lifted its holdings in Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after buying an additional 1,522,767 shares during the last quarter. Boston Partners lifted its holdings in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank's stock worth $783,215,000 after buying an additional 9,533,511 shares during the last quarter. FMR LLC lifted its holdings in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank's stock worth $348,672,000 after buying an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Huntington Bancshares by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank's stock valued at $208,346,000 after purchasing an additional 561,565 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 6,455 shares of the business's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company's stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

HBAN traded down $0.06 during trading on Tuesday, reaching $18.14. 9,102,633 shares of the stock were exchanged, compared to its average volume of 16,041,771. The business's 50 day moving average price is $15.79 and its two-hundred day moving average price is $14.50. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 3.57 and a beta of 1.03. Huntington Bancshares Incorporated has a 1 year low of $10.73 and a 1 year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.42%. Huntington Bancshares's dividend payout ratio (DPR) is 59.62%.

Wall Street Analyst Weigh In

HBAN has been the subject of several research reports. DA Davidson boosted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a report on Monday, October 21st. Barclays boosted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Piper Sandler upped their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company an "underweight" rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Morgan Stanley lifted their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average target price of $16.62.

Huntington Bancshares 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.