Smithfield Trust Co Has $1.12 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Smithfield Trust Co grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2,445.4% during the third quarter, HoldingsChannel reports. The firm owned 76,362 shares of the bank’s stock after buying an additional 73,362 shares during the quarter. Smithfield Trust Co’s holdings in Huntington Bancshares were worth $1,122,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HBAN. Acadian Asset Management LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter worth approximately $378,000. O Shaughnessy Asset Management LLC increased its stake in shares of Huntington Bancshares by 14.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 218,576 shares of the bank’s stock valued at $3,049,000 after acquiring an additional 26,761 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in shares of Huntington Bancshares by 1,078.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 65,315 shares of the bank’s stock valued at $911,000 after acquiring an additional 59,774 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Huntington Bancshares by 21.2% in the 1st quarter. Bessemer Group Inc. now owns 17,241 shares of the bank’s stock valued at $241,000 after acquiring an additional 3,010 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter valued at $232,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Huntington Bancshares news, 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 sale, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the company’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 sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HBAN has been the subject of several research analyst reports. Citigroup lifted their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Evercore ISI boosted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $16.26.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.56 on Thursday. The company’s 50-day moving average is $15.58 and its 200 day moving average is $14.41. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $25.51 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. Huntington Bancshares Incorporated has a fifty-two week low of $10.73 and a fifty-two week high of $17.97.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the previous year, the firm earned $0.36 EPS. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Huntington Bancshares 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.