Robeco Institutional Asset Management BV increased its stake in Huntington Bancshares Incorporated (NASDAQ: HBAN – Get a rating) by 262.0% in the first quarter, HoldingsChannel.com reports. The institutional investor held 50,636 shares of the bank after acquiring an additional 36,650 shares during the period. Robeco Institutional Asset Management BV’s holdings in Huntington Bancshares were worth $740,000 when it last filed with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Tortoise Investment Management LLC increased its stake in Huntington Bancshares by 433.3% in the fourth quarter. Tortoise Investment Management LLC now owns 1,600 shares of the bank valued at $25,000 after buying an additional 1,300 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Huntington Bancshares in the fourth quarter worth approximately $27,000. Riverview Trust Co bought a new position in Huntington Bancshares in the first quarter worth approximately $27,000. Larson Financial Group LLC bought a new position in Huntington Bancshares in the fourth quarter worth approximately $31,000. Finally, Rockbridge Investment Management LCC increased its stake in Huntington Bancshares by 2,000.0% in the fourth quarter. Rockbridge Investment Management LCC now owns 2,100 shares of the bank valued at $32,000 after buying an additional 2,000 shares last quarter. Institutional investors hold 79.26% of the company’s shares.

Huntington Banc shares are trading up 5.2%

Shares of NASDAQ: HBAN opened at $12.51 on Friday. Huntington Bancshares Incorporated has a 52-week low of $11.67 and a 52-week high of $17.79. The company has a market capitalization of $18.00 billion, a P/E ratio of 10.69 and a beta of 1.20. The company has a 50-day simple moving average of $12.78 and a 200-day simple moving average of $14.32. The company has a debt ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.80.

Huntington Bench Shares (NASDAQ: HBAN – Get a rating) last released its quarterly earnings data on Thursday, April 21. The bank reported earnings per share (EPS) of $0.32 for the quarter, beating the consensus estimate of $0.31 by $0.01. The company posted revenue of $1.65 billion in the quarter, versus a consensus estimate of $1.63 billion. Huntington Bancshares had a net margin of 26.96% and a return on equity of 12.19%. The company’s revenue for the quarter increased by 20.3% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.48. Sell-side analysts expect Huntington Bancshares Incorporated to post 1.4 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Friday, June 17 received a dividend of $0.155 per share. The ex-dividend date was Thursday, June 16. This represents an annualized dividend of $0.62 and a yield of 4.96%. Huntington Bancshares’ dividend payout ratio (DPR) is currently 52.99%.

Insiders place their bets

In related news, the director Richard H. King acquired 2,178 shares of the company in a transaction on Tuesday, April 26. The shares were purchased at an average cost of $13.78 per share, for a total transaction of $30,012.84. Following completion of the transaction, the administrator now directly owns 75,492 shares of the company, valued at approximately $1,040,279.76. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. In other Huntington Bancshares news, CEO Stephen D. Steinour purchased 14,234 shares of the company in a trade dated Tuesday, April 26. The stock was purchased at an average price of $13.98 per share, for a total transaction of $198,991.32. Following completion of the transaction, the CEO now owns 627,104 shares of the company, valued at $8,766,913.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. Additionally, director Richard H. King purchased 2,178 shares of the company in a transaction dated Tuesday, April 26. The shares were acquired at an average price of $13.78 per share, with a total value of $30,012.84. Following completion of the transaction, the director now owns 75,492 shares of the company, valued at approximately $1,040,279.76. Disclosure of this purchase can be found here. Insiders have sold 48,327 shares of the company worth $657,985 over the past three months. Insiders hold 0.72% of the company’s shares.

Wall Street analysts predict growth

A number of brokerages have weighed in on HBAN. Wedbush downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a price target of $14.00 for the stock. in a research note on Thursday, June 30. Keefe, Bruyette & Woods downgraded shares of Huntington Bancshares from a “market performance” rating to an “underperform” rating and lowered their price target for the company from $17.00 to $15.00 $ in a report from Thursday, June 2. StockNews.com upgraded Huntington Bancshares shares from a “sell” to a “hold” rating in a Friday, April 22 report. Piper Sandler downgraded shares of Huntington Bancshares from an “overweight” rating to a “neutral” rating and lowered her price target for the company from $14.00 to $13.50 in a Friday July 8 report. Finally, Morgan Stanley lowered its price target on shares of Huntington Bancshares from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report released Tuesday. Three equity research analysts gave the stock a sell rating, seven gave the stock a hold rating, three gave the stock a buy rating and one gave the stock a high buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.12.

Profile of Huntington Bancshares

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Huntington Bancshares Incorporated operates as a bank holding company for Huntington National Bank which provides commercial, consumer and mortgage banking services in the United States. The Company operates through four segments: Personal and Commercial Banking; The Commercial Bank; Vehicle financing; and Regional Banking and The Huntington Private Client Group (RBHPCG).

Further reading

Want to see which other hedge funds hold HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Huntington Bancshares Incorporated (NASDAQ: HBAN – Get a rating).

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