Objective Capital Management LLC Makes New $252,000 Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Objective Capital Management LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,118 shares of the bank’s stock, valued at approximately $252,000.

Several other large investors have also modified their holdings of the stock. Boston Partners boosted its stake in Huntington Bancshares by 20.4% in the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the period. Victory Capital Management Inc. lifted its stake in Huntington Bancshares by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock worth $236,640,000 after acquiring an additional 65,355 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Huntington Bancshares by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after acquiring an additional 561,565 shares during the period. Hsbc Holdings PLC boosted its position in Huntington Bancshares by 9.5% during the 2nd quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after acquiring an additional 566,015 shares during the period. Finally, abrdn plc grew its stake in Huntington Bancshares by 3.9% during the 3rd quarter. abrdn plc now owns 3,660,616 shares of the bank’s stock valued at $53,976,000 after acquiring an additional 137,032 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

HBAN has been the subject of several research reports. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays upped their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Argus upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.09.

Insiders Place Their Bets

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Down 0.5 %

Huntington Bancshares stock opened at $17.29 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares Incorporated has a fifty-two week low of $10.10 and a fifty-two week high of $17.54. The firm has a fifty day moving average price of $15.09 and a two-hundred day moving average price of $14.19. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 3.56 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $0.36 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.59%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

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.