Oak Thistle LLC Takes $204,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Posted by Defense World Staff on Jul 17th, 2023

Oak Thistle LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 18,235 shares of the bank’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. raised its position in shares of Huntington Bancshares by 11.8% during the 1st quarter. American Century Companies Inc. now owns 189,174 shares of the bank’s stock worth $2,765,000 after purchasing an additional 19,959 shares during the last quarter. D.A. Davidson & CO. acquired a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $315,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Huntington Bancshares by 309.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,001 shares of the bank’s stock worth $146,000 after purchasing an additional 7,558 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Huntington Bancshares by 40.9% during the 1st quarter. Panagora Asset Management Inc. now owns 104,361 shares of the bank’s stock worth $1,526,000 after purchasing an additional 30,296 shares during the last quarter. Finally, Aviva PLC raised its position in shares of Huntington Bancshares by 58.2% during the 1st quarter. Aviva PLC now owns 798,754 shares of the bank’s stock worth $11,678,000 after purchasing an additional 293,944 shares during the last quarter. 78.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 98,608 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $10.25, for a total value of $1,010,732.00. Following the sale, the chief financial officer now owns 188,767 shares in the company, valued at approximately $1,934,861.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 98,608 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $10.25, for a total transaction of $1,010,732.00. Following the sale, the chief financial officer now owns 188,767 shares in the company, valued at $1,934,861.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenneth J. Phelan acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The shares were acquired at an average price of $10.80 per share, for a total transaction of $216,000.00. Following the purchase, the director now owns 89,285 shares of the company’s stock, valued at $964,278. The disclosure for this purchase can be found here. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Down 0.8 %

Shares of Huntington Bancshares stock opened at $11.25 on Monday. The company has a fifty day moving average price of $10.57 and a 200 day moving average price of $12.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a twelve month low of $9.13 and a twelve month high of $15.74. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 6.26 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Huntington Bancshares had a net margin of 27.06% and a return on equity of 15.33%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 19th were issued a $0.155 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.62 dividend on an annualized basis and a yield of 5.51%. Huntington Bancshares’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HBAN shares. Keefe, Bruyette & Woods upgraded Huntington Bancshares from an “underperform” rating to a “market perform” rating and cut their price objective for the stock from $13.50 to $13.00 in a research report on Wednesday, April 5th. Barclays lowered their target price on shares of Huntington Bancshares from $14.00 to $13.00 in a research note on Tuesday, June 27th. JPMorgan Chase & Co. lifted their target price on shares of Huntington Bancshares from $11.00 to $12.00 in a research note on Thursday, June 29th. UBS Group cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating in a research note on Monday, April 10th. Finally, Raymond James lowered their target price on shares of Huntington Bancshares from $15.00 to $14.00 in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.75.

About Huntington Bancshares

(Free Report)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).