Basswood Capital Management L.L.C. Invests $4.04 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Basswood Capital Management L.L.C. purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 274,752 shares of the bank's stock, valued at approximately $4,039,000.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in Huntington Bancshares by 12.7% during the 1st quarter. Janus Henderson Group PLC now owns 244,633 shares of the bank's stock worth $3,411,000 after purchasing an additional 27,519 shares in the last quarter. Tidal Investments LLC lifted its holdings in Huntington Bancshares by 5.3% during the 1st quarter. Tidal Investments LLC now owns 75,933 shares of the bank's stock worth $1,059,000 after purchasing an additional 3,855 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Huntington Bancshares by 221.8% during the 1st quarter. Cetera Investment Advisers now owns 756,408 shares of the bank's stock worth $10,552,000 after purchasing an additional 521,372 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Huntington Bancshares by 224.2% during the 1st quarter. Cetera Advisors LLC now owns 158,821 shares of the bank's stock worth $2,216,000 after purchasing an additional 109,838 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Huntington Bancshares by 3.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 586,246 shares of the bank's stock worth $8,049,000 after purchasing an additional 20,540 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Up 0.1 %

Shares of HBAN stock traded up $0.01 during mid-day trading on Monday, hitting $18.01. The company's stock had a trading volume of 6,349,220 shares, compared to its average volume of 15,969,348. Huntington Bancshares Incorporated has a 52-week low of $11.10 and a 52-week high of $18.44. The business has a 50-day moving average price of $16.05 and a 200 day moving average price of $14.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $26.17 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.59 and a beta of 1.03.

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

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's dividend payout ratio is currently 59.62%.

Analyst Ratings Changes

HBAN has been the topic of several recent analyst reports. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Morgan Stanley increased their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Barclays increased their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Piper Sandler increased their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company an "underweight" rating in a research report on Friday, October 18th. One investment 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 company's stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.62.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the company's stock in a transaction dated 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 sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares of the company's stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by insiders.

Huntington Bancshares Company 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.