Stoneridge Investment Partners LLC Invests $1.20 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Stoneridge Investment Partners LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 90,871 shares of the bank’s stock, valued at approximately $1,198,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GHP Investment Advisors Inc. raised its position in shares of Huntington Bancshares by 2.8% in the second quarter. GHP Investment Advisors Inc. now owns 157,066 shares of the bank’s stock valued at $2,070,000 after buying an additional 4,268 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in Huntington Bancshares by 13.6% in the 2nd quarter. Meeder Advisory Services Inc. now owns 40,478 shares of the bank’s stock valued at $534,000 after acquiring an additional 4,850 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Huntington Bancshares by 43.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 839,162 shares of the bank’s stock valued at $10,667,000 after acquiring an additional 252,916 shares during the period. Vest Financial LLC grew its holdings in shares of Huntington Bancshares by 36.5% during the 2nd quarter. Vest Financial LLC now owns 87,561 shares of the bank’s stock worth $1,154,000 after purchasing an additional 23,432 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Huntington Bancshares in the second quarter worth $4,766,000. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In related news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock valued at $1,762,904 in the last three months. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Piper Sandler raised their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research note on Monday, July 22nd. Argus increased their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods cut their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Evercore ISI lowered their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.59.

Huntington Bancshares Price Performance

HBAN stock opened at $14.38 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The company’s 50-day moving average is $14.21 and its 200-day moving average is $13.68. The stock has a market capitalization of $20.89 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the previous year, the business posted $0.35 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is 55.86%.

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.