Caprock Group LLC Increases Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Caprock Group LLC increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,124 shares of the bank’s stock after acquiring an additional 2,260 shares during the period. Caprock Group LLC’s holdings in Huntington Bancshares were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in Huntington Bancshares during the fourth quarter valued at about $313,000. Dimensional Fund Advisors LP boosted its position in Huntington Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after buying an additional 765,070 shares during the period. Ieq Capital LLC boosted its position in Huntington Bancshares by 33.2% during the fourth quarter. Ieq Capital LLC now owns 32,819 shares of the bank’s stock valued at $417,000 after buying an additional 8,176 shares during the period. Westpac Banking Corp boosted its position in Huntington Bancshares by 228.4% during the fourth quarter. Westpac Banking Corp now owns 14,557 shares of the bank’s stock valued at $185,000 after buying an additional 10,124 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Huntington Bancshares by 12.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,466,480 shares of the bank’s stock valued at $18,360,000 after buying an additional 157,409 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares in the company, valued at $4,021,690.17. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares in the company, valued at $4,021,690.17. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Helga Houston sold 11,288 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the sale, the insider now owns 618,832 shares in the company, valued at approximately $9,294,856.64. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock worth $1,762,904 over the last 90 days. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of HBAN opened at $14.20 on Friday. The stock has a market cap of $20.58 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The firm’s 50-day simple moving average is $14.18 and its two-hundred day simple moving average is $13.67.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the prior year, the company earned $0.35 earnings per share. Analysts anticipate that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Ratings Changes

HBAN has been the subject of several analyst reports. Morgan Stanley upped their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Piper Sandler upped their price target on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research report on Monday, July 22nd. Bank of America upped their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $15.59.

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.