Pallas Capital Advisors LLC Purchases New Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pallas Capital Advisors LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,054 shares of the bank’s stock, valued at approximately $483,000.

Other hedge funds have also bought and sold shares of the company. Asset Dedication LLC grew its position in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS bought a new position in Huntington Bancshares during the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares during the 3rd quarter valued at $31,000. Hazlett Burt & Watson Inc. lifted 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 valued at $30,000 after acquiring an additional 2,003 shares in the last quarter. Finally, ORG Partners LLC lifted its stake 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 acquiring an additional 2,594 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 0.8 %

Shares of HBAN opened at $15.74 on Thursday. The business has a 50-day moving average of $14.85 and a 200 day moving average of $14.04. Huntington Bancshares Incorporated has a fifty-two week low of $9.49 and a fifty-two week high of $16.03. The firm has a market cap of $22.86 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the firm posted $0.36 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.2 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is presently 59.62%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HBAN. Barclays raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group dropped their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.09.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.92% of the company’s stock.

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.