Objective Capital Management LLC Buys New Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Objective Capital Management LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,118 shares of the bank’s stock, valued at approximately $252,000.

Several other large investors have also recently added to or reduced their stakes in HBAN. Assetmark Inc. lifted its position in Huntington Bancshares by 24.0% during the 3rd quarter. Assetmark Inc. now owns 128,396 shares of the bank’s stock worth $1,887,000 after acquiring an additional 24,879 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in Huntington Bancshares by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 78,535 shares of the bank’s stock worth $1,154,000 after buying an additional 2,816 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Huntington Bancshares in the 3rd quarter valued at about $168,000. JB Capital LLC grew its stake in shares of Huntington Bancshares by 2.6% during the third quarter. JB Capital LLC now owns 190,745 shares of the bank’s stock valued at $2,804,000 after acquiring an additional 4,791 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Huntington Bancshares by 6.9% during the third quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank’s stock worth $25,627,000 after acquiring an additional 112,146 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. Argus increased their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report 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’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.29 on Friday. The company has a 50-day moving average price of $15.09 and a two-hundred day moving average price of $14.19. The stock has a market cap of $25.12 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 3.56 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 Incorporated has a 52 week low of $10.10 and a 52 week high of $17.54.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm earned $0.36 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

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.