Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,667 shares of the bank’s stock after selling 5,584 shares during the period. Park Place Capital Corp’s holdings in Huntington Bancshares were worth $539,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Huntington Bancshares by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after purchasing an additional 1,209,264 shares in the last quarter. Boston Partners increased its holdings in Huntington Bancshares by 59.3% during the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after acquiring an additional 17,365,446 shares in the last quarter. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter valued at about $206,703,000. Dimensional Fund Advisors LP increased its holdings 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 valued at $192,473,000 after acquiring an additional 765,070 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings 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 valued at $83,124,000 after acquiring an additional 1,838,019 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on HBAN shares. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. Piper Sandler downgraded shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $13.50 to $11.50 in a report on Friday, June 14th. Morgan Stanley dropped their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. JPMorgan Chase & Co. lowered their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 price target on shares of Huntington Bancshares in a report on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.03.

Huntington Bancshares Price Performance

HBAN opened at $13.16 on Tuesday. The stock has a market capitalization of $19.07 billion, a PE ratio of 11.86, a P/E/G ratio of 2.49 and a beta of 1.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $14.30. The company’s 50 day simple moving average is $13.41 and its 200 day simple moving average is $13.16.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a dividend of $0.155 per share. The ex-dividend date was Monday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.71%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the transaction, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The disclosure for this sale can be found here. Insiders sold a total of 157,829 shares of company stock worth $2,148,623 over the last ninety days. 0.92% of the stock is owned by company insiders.

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.