Trexquant Investment LP Purchases New Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Trexquant Investment LP bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 315,931 shares of the bank's stock, valued at approximately $5,140,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Arvest Bank Trust Division purchased a new position in shares of Huntington Bancshares during the third quarter worth approximately $2,381,000. National Bank of Canada FI raised its position in Huntington Bancshares by 220.9% during the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock valued at $59,661,000 after purchasing an additional 2,524,077 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock worth $13,832,000 after buying an additional 129,106 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Huntington Bancshares during the fourth quarter valued at $422,000. Finally, Donoghue Forlines LLC purchased a new stake in Huntington Bancshares in the fourth quarter worth about $1,460,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded down $1.07 during trading on Thursday, hitting $12.64. 8,640,933 shares of the company's stock were exchanged, compared to its average volume of 17,225,265. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market capitalization of $18.46 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 1.33 and a beta of 0.89. The business has a 50-day simple moving average of $15.37 and a 200-day simple moving average of $16.07.

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Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the prior year, the business earned $0.27 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares's dividend payout ratio is currently 50.41%.

Analysts Set New Price Targets

Several research firms have recently commented on HBAN. StockNews.com upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. Citigroup lowered their target price on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.94.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares of the company's stock, valued at $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,781 shares of company stock valued at $1,631,151. Corporate 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.