Eventide Asset Management LLC Invests $8.56 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Eventide Asset Management LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 582,564 shares of the bank’s stock, valued at approximately $8,564,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC raised its position in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares in the third quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares in the third quarter valued at about $31,000. Fortitude Family Office LLC bought a new position in Huntington Bancshares during the third quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. grew its position 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 buying an additional 2,003 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $18.01 on Friday. The firm has a market capitalization of $26.17 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average price is $15.99 and its two-hundred day moving average price is $14.58. Huntington Bancshares Incorporated has a 1 year low of $11.10 and a 1 year high of $18.44.

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

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.44%. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HBAN. Evercore ISI increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Citigroup boosted their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley boosted their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve 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 has a consensus rating of “Moderate Buy” and a consensus price target of $16.62.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’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 value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock valued at $757,356 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

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.