Hamilton Capital LLC Invests $8.41 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Hamilton Capital LLC acquired a new position in 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 fund acquired 539,617 shares of the bank's stock, valued at approximately $8,413,000. Huntington Bancshares comprises about 0.6% of Hamilton Capital LLC's holdings, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HBAN. State Street Corp lifted its position in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after purchasing an additional 7,439,909 shares during the period. FMR LLC raised its stake in shares of Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $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 buying an additional 2,363,988 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of 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, Charles Schwab Investment Management Inc. grew its holdings in Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after acquiring an additional 1,522,767 shares during the period. Hedge funds and other institutional investors own 80.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HBAN. Citigroup upped their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Sandler O'Neill reaffirmed a "buy" rating on shares of Huntington Bancshares in a research note on Friday, October 18th. DA Davidson increased their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a report on Monday, October 21st. Royal Bank of Canada restated an "outperform" rating and set a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, StockNews.com cut Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.24.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction 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 sale, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 in the last ninety days. Company insiders own 0.92% of the company's stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded down $0.33 during midday trading on Monday, hitting $17.28. The company had a trading volume of 12,225,198 shares, compared to its average volume of 15,826,401. 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 business has a 50-day simple moving average of $16.36 and a two-hundred day simple moving average of $14.74. Huntington Bancshares Incorporated has a twelve month low of $11.77 and a twelve month high of $18.44. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 3.51 and a beta of 1.06.

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. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.59%. Huntington Bancshares's payout ratio is currently 59.62%.

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.