Sapient Capital LLC Purchases New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Sapient Capital LLC acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 13,008 shares of the bank’s stock, valued at approximately $167,000.

Other hedge funds have also recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in shares of Huntington Bancshares by 2.3% during the third quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock valued at $29,066,000 after purchasing an additional 62,674 shares in the last quarter. Comerica Bank purchased a new position in Huntington Bancshares during the third quarter valued at $5,261,000. Vest Financial LLC raised its stake in shares of Huntington Bancshares by 16.5% in the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock worth $12,731,000 after buying an additional 141,410 shares during the period. Lindbrook Capital LLC grew its stake in shares of Huntington Bancshares by 43.4% during the 4th quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,371 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of Huntington Bancshares by 199.6% in the third quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock worth $3,893,000 after purchasing an additional 249,356 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 1.4 %

Shares of NASDAQ HBAN opened at $14.05 on Thursday. The business’s 50 day moving average price is $13.50 and its 200-day moving average price is $12.48. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.55 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period last year, the company earned $0.38 earnings per share. On average, sell-side analysts expect 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 Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a yield of 4.41%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several research analyst reports. Citigroup increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $15.00 in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Insider Transactions at Huntington Bancshares

In related news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,092 shares of company stock valued at $3,031,731. 0.92% of the stock is currently owned by company insiders.

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.