Naples Money Management LLC Buys New Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Naples Money Management LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,692 shares of the bank’s stock, valued at approximately $174,000.

Other large investors also recently modified their holdings of the company. California Public Employees Retirement System raised its stake in shares of Huntington Bancshares by 2.3% during the third quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock valued at $29,066,000 after acquiring an additional 62,674 shares during the last quarter. Comerica Bank bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at about $5,261,000. Vest Financial LLC increased its position in shares of Huntington Bancshares by 16.5% during the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock valued at $12,731,000 after buying an additional 141,410 shares during the period. Bank of Nova Scotia lifted its holdings in Huntington Bancshares by 199.6% in the third quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock worth $3,893,000 after buying an additional 249,356 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Huntington Bancshares by 5.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 120,744 shares of the bank’s stock valued at $1,256,000 after acquiring an additional 5,740 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded up $0.10 on Friday, hitting $13.28. 39,981,445 shares of the company traded hands, compared to its average volume of 17,831,621. Huntington Bancshares Incorporated has a 52 week low of $9.13 and a 52 week high of $14.07. The business has a 50-day simple moving average of $13.25 and a 200 day simple moving average of $12.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $19.26 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping the consensus estimate of $0.12 by $0.15. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same quarter in the previous year, the company earned $0.43 EPS. Research analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.67%. Huntington Bancshares’s payout ratio is presently 50.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on HBAN. Raymond James lifted their price target on Huntington Bancshares from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, December 26th. UBS Group upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.97.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the transaction, the insider now directly owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the transaction, the insider now directly owns 568,222 shares in the company, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,241 shares of company stock valued at $1,360,359. Insiders own 0.89% of the company’s stock.

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.