Hamilton Capital LLC Makes New $8.41 Million Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Hamilton Capital LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 539,617 shares of the bank’s stock, valued at approximately $8,413,000. Huntington Bancshares makes up about 0.6% of Hamilton Capital LLC’s portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. acquired a new position in shares of Huntington Bancshares in the 2nd quarter worth approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after buying an additional 44,662 shares in the last quarter. Petiole USA ltd acquired a new position in Huntington Bancshares in the third quarter worth approximately $3,454,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Huntington Bancshares by 40.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after buying an additional 55,865 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after acquiring an additional 2,363,988 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.5 %

NASDAQ HBAN opened at $17.61 on Monday. Huntington Bancshares Incorporated has a twelve month low of $11.68 and a twelve month high of $18.44. The stock has a market cap of $25.58 billion, a PE ratio of 16.93, a PEG ratio of 3.51 and a beta of 1.06. The firm has a 50-day simple moving average of $16.36 and a 200 day simple moving average of $14.74. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the company earned $0.36 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Analyst Ratings Changes

Several equities research analysts have recently commented on HBAN shares. Evercore ISI upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods boosted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.24.

Insider Activity at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 over the last quarter. 0.92% of the stock is owned by company insiders.

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.