Ancora Advisors LLC Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Ancora Advisors LLC lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,106 shares of the bank’s stock after acquiring an additional 2,033 shares during the period. Ancora Advisors LLC’s holdings in Huntington Bancshares were worth $978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth about $29,000. YHB Investment Advisors Inc. acquired a new position in Huntington Bancshares during the first quarter worth approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares during the fourth quarter worth approximately $29,000. Nemes Rush Group LLC increased its position in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares during the period. Finally, Register Financial Advisors LLC acquired a new position in Huntington Bancshares during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ HBAN traded down $0.20 on Wednesday, reaching $14.95. 16,852,832 shares of the stock traded hands, compared to its average volume of 17,487,020. The firm’s fifty day simple moving average is $13.49 and its 200 day simple moving average is $13.35. 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 market cap of $21.67 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 3.07 and a beta of 1.06. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24.

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

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.15%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insider Buying and Selling

In other news, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the sale, the insider now directly owns 65,899 shares of the company’s stock, valued at $987,167.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,273 shares of company stock worth $1,773,778. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HBAN shares. 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 boosted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Argus boosted their target price 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 target price on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group decreased their price target 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $15.47.

Huntington Bancshares Company 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.