Aljian Capital Management LLC Purchases New Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Aljian Capital Management LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, HoldingsChannel reports. The firm purchased 14,410 shares of the bank’s stock, valued at approximately $212,000.

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

Huntington Bancshares Trading Up 0.6 %

NASDAQ HBAN opened at $17.80 on Tuesday. The stock has a 50 day moving average of $15.45 and a 200-day moving average of $14.36. Huntington Bancshares Incorporated has a 12 month low of $10.73 and a 12 month high of $17.97. The company has a market cap of $25.86 billion, a PE ratio of 17.12, a PEG ratio of 3.53 and a beta of 1.03. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

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

Huntington Bancshares Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.48%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HBAN. Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Citigroup increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Morgan Stanley lifted their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.09.

About Huntington Bancshares

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.