Quarry LP Buys 5,803 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Quarry LP lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 143.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,836 shares of the bank’s stock after purchasing an additional 5,803 shares during the period. Quarry LP’s holdings in Huntington Bancshares were worth $130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. WealthShield Partners LLC raised its stake in Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after acquiring an additional 683 shares during the period. Foundations Investment Advisors LLC raised its stake in Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after acquiring an additional 744 shares during the period. Summit Financial Strategies Inc. raised its stake in Huntington Bancshares by 2.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after acquiring an additional 762 shares during the period. State of Alaska Department of Revenue raised its stake in Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after acquiring an additional 780 shares during the period. Finally, Park Avenue Securities LLC raised its stake in Huntington Bancshares by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after acquiring an additional 794 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $14.32 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $20.75 billion, a PE ratio of 12.90, a P/E/G ratio of 3.07 and a beta of 1.05. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24. The stock has a 50-day moving average price of $14.36 and a two-hundred day moving average price of $13.80.

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, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company earned $0.35 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.33%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief financial officer now directly owns 265,809 shares in the company, valued at approximately $4,021,690.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HBAN. Argus increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Piper Sandler increased their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 22nd. Jefferies Financial Group lowered their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Bank of America increased their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley increased their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.59.

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.