Lake Street Advisors Group LLC Acquires New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Lake Street Advisors Group LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, Holdings Channel reports. The fund acquired 16,445 shares of the bank’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners raised its position in Huntington Bancshares by 59.3% during the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after buying an additional 17,365,446 shares during the last quarter. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter worth approximately $206,703,000. Dimensional Fund Advisors LP raised its position in Huntington Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after buying an additional 765,070 shares during the last quarter. Raymond James & Associates raised its position in Huntington Bancshares by 3.1% during the 1st quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock worth $103,276,000 after buying an additional 225,911 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after buying an additional 1,838,019 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at $902,298.80. The disclosure for this sale can be found here. Insiders have sold 61,881 shares of company stock worth $844,003 over the last three months. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Stephens reissued an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. Bank of America lifted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday. Evercore ISI cut their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, UBS Group cut their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Huntington Bancshares Trading Up 1.3 %

HBAN traded up $0.20 on Thursday, hitting $15.12. The company had a trading volume of 7,440,044 shares, compared to its average volume of 17,452,660. The firm has a market cap of $21.91 billion, a P/E ratio of 13.44, a PEG ratio of 3.08 and a beta of 1.06. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.21. The company’s fifty day moving average price is $13.41 and its 200 day moving average price is $13.28. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the previous year, the firm earned $0.35 EPS. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.10%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

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.