Point72 Asset Management L.P. Has $64.72 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Point72 Asset Management L.P. lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 37.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,402,801 shares of the bank's stock after purchasing an additional 1,199,012 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.30% of Huntington Bancshares worth $64,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of HBAN. IHT Wealth Management LLC boosted its holdings in Huntington Bancshares by 57.9% during the third quarter. IHT Wealth Management LLC now owns 26,775 shares of the bank's stock valued at $390,000 after purchasing an additional 9,817 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank's stock worth $917,000 after buying an additional 800 shares during the period. Investment Management Corp of Ontario boosted its stake in Huntington Bancshares by 48.0% in the 3rd quarter. Investment Management Corp of Ontario now owns 48,110 shares of the bank's stock valued at $707,000 after buying an additional 15,600 shares in the last quarter. Hilltop Holdings Inc. grew its position in Huntington Bancshares by 4.3% in the third quarter. Hilltop Holdings Inc. now owns 39,257 shares of the bank's stock valued at $577,000 after acquiring an additional 1,619 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in Huntington Bancshares by 1,840.2% during the third quarter. Benjamin Edwards Inc. now owns 67,693 shares of the bank's stock worth $995,000 after acquiring an additional 64,204 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Evercore ISI lifted their price target 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. Keefe, Bruyette & Woods lifted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a report on Wednesday. Citigroup increased their price objective 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. Piper Sandler boosted their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an "underweight" rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.24.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company's stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares Trading Up 0.6 %

Shares of NASDAQ:HBAN traded up $0.10 during mid-day trading on Thursday, reaching $17.70. The stock had a trading volume of 12,806,621 shares, compared to its average volume of 15,886,840. The firm has a 50 day simple moving average of $16.24 and a two-hundred day simple moving average of $14.68. Huntington Bancshares Incorporated has a twelve month low of $11.68 and a twelve month high of $18.44. The firm has a market cap of $25.71 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

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

Huntington Bancshares Announces Dividend

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

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.