Rockland Trust Co. Buys 2,868 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Rockland Trust Co. boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,008 shares of the bank’s stock after purchasing an additional 2,868 shares during the period. Rockland Trust Co.’s holdings in Huntington Bancshares were worth $1,088,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the first quarter worth about $29,000. YHB Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares during the first quarter valued at about $30,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Huntington Bancshares in the first quarter worth about $40,000. Finally, ORG Partners LLC grew its holdings in Huntington Bancshares by 354.9% during the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after buying an additional 2,594 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN traded up $0.45 during trading on Friday, hitting $14.62. 12,711,631 shares of the stock traded hands, compared to its average volume of 16,302,675. The company has a market cap of $21.19 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 3.07 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average price of $14.32 and a two-hundred day moving average price of $13.81. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results 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. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business earned $0.35 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.24%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank of Canada lifted their price target on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Morgan Stanley increased their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Argus boosted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Piper Sandler boosted their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group dropped their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $15.71.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’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 transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,622 shares of company stock valued at $1,762,904. 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.