Brookfield Corp ON Invests $30.17 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Posted by Defense World Staff on Sep 12th, 2023

Brookfield Corp ON purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,693,907 shares of the bank’s stock, valued at approximately $30,172,000. Brookfield Corp ON owned about 0.19% of Huntington Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Huntington Bancshares by 2,536.9% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 5,936,016 shares of the bank’s stock worth $66,483,000 after buying an additional 5,710,903 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Huntington Bancshares by 11.8% in the 1st quarter. Lido Advisors LLC now owns 29,701 shares of the bank’s stock worth $333,000 after buying an additional 3,140 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Huntington Bancshares by 6.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 84,316 shares of the bank’s stock worth $944,000 after buying an additional 4,857 shares during the last quarter. Gillson Capital LP boosted its holdings in shares of Huntington Bancshares by 405.6% in the 1st quarter. Gillson Capital LP now owns 2,852,988 shares of the bank’s stock worth $31,953,000 after buying an additional 2,288,678 shares during the last quarter. Finally, DoubleLine ETF Adviser LP purchased a new position in shares of Huntington Bancshares in the 1st quarter worth about $184,000. 78.68% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Down 1.1 %

Shares of HBAN opened at $10.75 on Tuesday. The business’s 50-day moving average price is $11.42 and its 200-day moving average price is $11.30. 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 $15.56 billion, a PE ratio of 6.94, a P/E/G ratio of 5.93 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last announced its earnings results on Friday, July 21st. The bank reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Huntington Bancshares had a net margin of 24.74% and a return on equity of 15.20%. During the same period last year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.38 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 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 5.77%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “strong-buy” rating in a report on Monday, July 24th. JPMorgan Chase & Co. raised shares of Huntington Bancshares from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $13.00 in a report on Tuesday, July 25th. Piper Sandler dropped their price objective on shares of Huntington Bancshares from $13.00 to $12.00 in a report on Thursday, June 15th. Barclays dropped their price objective on shares of Huntington Bancshares from $14.00 to $13.00 in a report on Tuesday, June 27th. Finally, Stephens upped their price objective on shares of Huntington Bancshares from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.31.

View Our Latest Research Report on HBAN

Insider Transactions at Huntington Bancshares

In other news, EVP Paul G. Heller sold 23,817 shares of Huntington Bancshares stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total transaction of $283,184.13. Following the completion of the sale, the executive vice president now directly owns 505,910 shares of the company’s stock, valued at approximately $6,015,269.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Paul G. Heller sold 23,817 shares of Huntington Bancshares stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total transaction of $283,184.13. Following the completion of the sale, the executive vice president now directly owns 505,910 shares of the company’s stock, valued at approximately $6,015,269.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 12,280 shares of Huntington Bancshares stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total transaction of $146,991.60. Following the sale, the insider now directly owns 594,564 shares of the company’s stock, valued at $7,116,931.08. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Profile

(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).