Longboard Asset Management LP Invests $171,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Longboard Asset Management LP purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 10,503 shares of the bank’s stock, valued at approximately $171,000.

A number of other hedge funds have also modified their holdings of HBAN. Marshall Wace LLP acquired a new position in shares of Huntington Bancshares in the second quarter worth $992,000. Sanctuary Advisors LLC acquired a new position in Huntington Bancshares during the second quarter worth $1,665,000. Czech National Bank increased its position in Huntington Bancshares by 7.1% during the third quarter. Czech National Bank now owns 295,876 shares of the bank’s stock worth $4,349,000 after buying an additional 19,707 shares during the last quarter. GAMMA Investing LLC increased its position in Huntington Bancshares by 17.6% during the third quarter. GAMMA Investing LLC now owns 35,988 shares of the bank’s stock worth $529,000 after buying an additional 5,389 shares during the last quarter. Finally, Brookstone Capital Management increased its position in Huntington Bancshares by 1.6% during the third quarter. Brookstone Capital Management now owns 684,679 shares of the bank’s stock worth $10,065,000 after buying an additional 10,464 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HBAN shares. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Truist Financial increased their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Evercore ISI raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Stock Up 0.2 %

NASDAQ HBAN opened at $16.87 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a 50-day simple moving average of $16.90 and a 200 day simple moving average of $15.78. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The stock has a market cap of $24.51 billion, a PE ratio of 13.72, a PEG ratio of 1.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.4 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is 50.41%.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

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.