Exchange Traded Concepts LLC Purchases 249,532 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

by · The Cerbat Gem

Exchange Traded Concepts LLC grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 6,617.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 253,303 shares of the bank’s stock after acquiring an additional 249,532 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Huntington Bancshares were worth $3,724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $29,000. Peoples Bank KS bought a new position in Huntington Bancshares during the 3rd quarter worth $29,000. Hazlett Burt & Watson Inc. increased its stake in 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 period. Register Financial Advisors LLC acquired a new position in Huntington Bancshares in the 1st quarter valued at $40,000. Finally, ORG Partners LLC lifted its position in shares of 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 acquiring an additional 2,594 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the sale, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,622 shares of company stock valued at $1,762,904 over the last quarter. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research note on Monday, July 22nd. Citigroup upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Evercore ISI decreased their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Jefferies Financial Group cut their target price 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. Finally, Royal Bank of Canada lifted their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.71.

View Our Latest Stock Report on Huntington Bancshares

Huntington Bancshares Trading Up 2.9 %

HBAN opened at $15.39 on Monday. The company’s 50 day moving average price is $14.35 and its two-hundred day moving average price is $13.87. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.77 and a beta of 1.04. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.43. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 58.49%.

Huntington Bancshares Company Profile

(Free Report)

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.

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