Atlanta Consulting Group Advisors LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Atlanta Consulting Group Advisors LLC bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 57,479 shares of the bank's stock, valued at approximately $845,000.

Several other large investors have also added to or reduced their stakes in HBAN. Boston Partners increased its holdings in Huntington Bancshares by 20.4% during the first 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. National Bank of Canada FI raised its holdings in shares of Huntington Bancshares by 832.7% in the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank's stock worth $46,927,000 after purchasing an additional 2,979,768 shares during the period. Victory Capital Management Inc. grew its holdings in Huntington Bancshares by 13.2% during the third 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 period. Point72 Asset Management L.P. increased its position in Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank's stock worth $42,226,000 after buying an additional 2,116,839 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Huntington Bancshares by 531.0% in the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank's stock valued at $15,166,000 after buying an additional 968,331 shares during the period. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Trading Up 0.9 %

Shares of Huntington Bancshares stock traded up $0.16 on Friday, hitting $17.69. The stock had a trading volume of 16,154,708 shares, compared to its average volume of 14,877,266. The stock's 50-day simple moving average is $15.38 and its two-hundred day simple moving average is $14.34. Huntington Bancshares Incorporated has a one year low of $10.73 and a one year high of $17.97. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The stock has a market cap of $25.70 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.53 and a beta of 1.03.

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

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.50%. Huntington Bancshares's dividend payout ratio is presently 59.62%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HBAN shares. Citigroup lifted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Evercore ISI boosted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Robert W. Baird downgraded Huntington Bancshares from an "outperform" rating to a "neutral" rating and set a $15.00 target price on the stock. in a research report on Friday, July 26th. Baird R W lowered Huntington Bancshares from a "strong-buy" rating to a "hold" rating in a report on Friday, July 26th. Finally, Piper Sandler raised their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an "underweight" rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.09.

Insider Buying and Selling

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares of the company's stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 over the last ninety days. Company insiders own 0.89% of the company's stock.

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.