QRG Capital Management Inc. Buys 4,395 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

QRG Capital Management Inc. lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,076 shares of the bank’s stock after purchasing an additional 4,395 shares during the period. QRG Capital Management Inc.’s holdings in Huntington Bancshares were worth $375,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of Huntington Bancshares by 19.3% in the third quarter. Farther Finance Advisors LLC now owns 11,618 shares of the bank’s stock valued at $171,000 after buying an additional 1,883 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at about $180,000. Robeco Institutional Asset Management B.V. lifted its holdings in Huntington Bancshares by 40.7% during 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 purchasing an additional 55,865 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Huntington Bancshares during the third quarter worth about $77,000. Finally, Centennial Wealth Advisory LLC increased its stake in shares of Huntington Bancshares by 3.9% in the third quarter. Centennial Wealth Advisory LLC now owns 40,267 shares of the bank’s stock worth $592,000 after purchasing an additional 1,505 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HBAN. Piper Sandler dropped their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.38 on Thursday. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The firm’s fifty day moving average price is $16.63 and its 200-day moving average price is $16.10. The stock has a market cap of $22.36 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company earned $0.27 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.03%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.