Y Intercept Hong Kong Ltd Invests $445,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Y Intercept Hong Kong Ltd purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,624 shares of the bank’s stock, valued at approximately $445,000.

Other institutional investors have also made changes to their positions in the company. Winch Advisory Services LLC boosted its holdings in shares of Huntington Bancshares by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock valued at $69,000 after purchasing an additional 709 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Huntington Bancshares by 4.0% during the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock valued at $326,000 after acquiring an additional 762 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Huntington Bancshares by 5.5% during the 1st quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank’s stock valued at $241,000 after acquiring an additional 844 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of Huntington Bancshares by 7.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank’s stock valued at $195,000 after acquiring an additional 856 shares in the last quarter. Finally, Keudell Morrison Wealth Management raised its position in Huntington Bancshares by 5.2% in the first quarter. Keudell Morrison Wealth Management now owns 17,509 shares of the bank’s stock valued at $263,000 after purchasing an additional 858 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares of the company’s stock, valued at $5,335,109.41. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total value of $848,101.60. Following the sale, the chief financial officer directly owned 277,348 shares of the company’s stock, valued at $3,982,717.28. This represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,105 shares of company stock valued at $1,687,743 in the last three months. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $16.64 on Tuesday. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The firm has a market capitalization of $24.31 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.87 and a beta of 0.93. The business has a 50-day simple moving average of $16.36 and a 200 day simple moving average of $15.73. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89.

Huntington Bancshares declared that its board has authorized a share buyback plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares’s payout ratio is 45.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial increased their target price on Huntington Bancshares from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Citigroup increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada dropped their target price on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Argus set a $17.00 target price on Huntington Bancshares in a research report on Friday, April 25th. Finally, TD Cowen began coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a “buy” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $18.68.

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.