USA Financial Formulas Acquires 2,664 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

USA Financial Formulas increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,444 shares of the bank’s stock after purchasing an additional 2,664 shares during the quarter. USA Financial Formulas’ holdings in Huntington Bancshares were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares in the 1st quarter valued at about $29,000. Peoples Bank KS bought a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the last quarter. Register Financial Advisors LLC bought a new stake in Huntington Bancshares in the 1st quarter valued at $40,000. Finally, ORG Partners LLC lifted its holdings in Huntington Bancshares by 354.9% during the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after purchasing an additional 2,594 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HBAN shares. Citigroup upped their price objective 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. UBS Group lowered their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Jefferies Financial Group reduced their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Insider Transactions at Huntington Bancshares

In related 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 sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Helga Houston sold 11,288 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the sale, the insider now directly owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $14.96 on Friday. The firm has a 50 day moving average of $14.32 and a 200-day moving average of $13.86. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $21.73 billion, a PE ratio of 14.11, a PEG ratio of 2.77 and a beta of 1.04.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company earned $0.35 earnings per share. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, September 17th. Huntington Bancshares’s payout ratio is 58.49%.

Huntington Bancshares Company Profile

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.