MML Investors Services LLC Acquires 8,025 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

MML Investors Services LLC raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 447,472 shares of the bank’s stock after buying an additional 8,025 shares during the quarter. MML Investors Services LLC’s holdings in Huntington Bancshares were worth $6,578,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Asset Dedication LLC lifted its stake in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS bought a new position in Huntington Bancshares in the third quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the third quarter valued at $31,000. Fortitude Family Office LLC bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson raised their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.17 on Friday. Huntington Bancshares Incorporated has a 52-week low of $11.77 and a 52-week high of $18.44. The company’s 50 day moving average is $16.60 and its 200 day moving average is $14.82. The firm has a market cap of $24.94 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 3.51 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

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

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. The trade was 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 worth $757,356 over the last 90 days. 0.89% of the stock is currently owned by corporate 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.