Brooklyn Investment Group Acquires Shares of 9,647 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Brooklyn Investment Group acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, HoldingsChannel reports. The firm acquired 9,647 shares of the bank’s stock, valued at approximately $142,000.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC raised its position in Huntington Bancshares by 200.7% during the third 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 in the last quarter. Peoples Bank KS acquired a new position in Huntington Bancshares during the third quarter valued at approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares during the third quarter valued at approximately $31,000. Fortitude Family Office LLC acquired a new position in Huntington Bancshares during the third quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. raised its position in 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 and hedge funds.

Huntington Bancshares Price Performance

HBAN stock opened at $18.00 on Thursday. The firm has a market cap of $26.15 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 3.63 and a beta of 1.03. 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 Incorporated has a 12-month low of $10.73 and a 12-month high of $18.44. The company’s fifty day simple moving average is $15.86 and its 200 day simple moving average is $14.53.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.44%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. Company insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Evercore ISI boosted their target price 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. Barclays boosted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Citigroup boosted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.62.

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.