Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Westpac Banking Corp

Defense World · May 2, 2023 20:22

Westpac Banking Corp increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,813 shares of the bank's stock after acquiring an additional 2,894 shares during the quarter. Westpac Banking Corp's holdings in Huntington Bancshares were worth $1,844,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of HBAN. CI Investments Inc. lifted its stake in shares of Huntington Bancshares by 994.3% in the third quarter. CI Investments Inc. now owns 1,904 shares of the bank's stock worth $25,000 after acquiring an additional 1,730 shares in the last quarter. Allworth Financial LP raised its stake in Huntington Bancshares by 91.9% during the third quarter. Allworth Financial LP now owns 1,998 shares of the bank's stock valued at $26,000 after buying an additional 957 shares in the last quarter. Archer Investment Corp acquired a new stake in Huntington Bancshares during the fourth quarter valued at approximately $27,000. Retirement Financial Solutions LLC acquired a new stake in Huntington Bancshares during the fourth quarter valued at approximately $28,000. Finally, EverSource Wealth Advisors LLC raised its stake in Huntington Bancshares by 149.8% during the third quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank's stock valued at $34,000 after buying an additional 1,543 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

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Insider Activity at Huntington Bancshares

In related news, Director Kenneth J. Phelan bought 20,000 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, April 26th. The stock was acquired at an average price of $10.80 per share, for a total transaction of $216,000.00. Following the completion of the purchase, the director now owns 89,285 shares in the company, valued at $964,278. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Trading Down 1.9 %

Shares of NASDAQ:HBAN opened at $10.99 on Tuesday. The company has a market cap of $15.93 billion, a P/E ratio of 7.09, a P/E/G ratio of 5.90 and a beta of 1.06. The stock's 50-day moving average is $12.18 and its 200-day moving average is $13.83. Huntington Bancshares Incorporated has a 52-week low of $9.94 and a 52-week high of $15.74. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Huntington Bancshares had a return on equity of 15.33% and a net margin of 27.06%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the business posted $0.32 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.44 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 19th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Thursday, June 15th. Huntington Bancshares's payout ratio is presently 40.00%.

Analysts Set New Price Targets

Several analysts have issued reports on HBAN shares. Raymond James cut their price objective on Huntington Bancshares from $18.00 to $15.00 and set a "strong-buy" rating on the stock in a research note on Thursday, April 6th. The Goldman Sachs Group cut their price objective on Huntington Bancshares from $16.50 to $13.00 and set a "buy" rating on the stock in a research note on Thursday, March 30th. Barclays cut their price objective on Huntington Bancshares from $17.00 to $14.00 in a research note on Wednesday, April 12th. Wedbush reaffirmed a "neutral" rating and set a $12.00 target price on shares of Huntington Bancshares in a report on Friday, April 21st. Finally, Keefe, Bruyette & Woods raised Huntington Bancshares from an "underperform" rating to a "market perform" rating and lowered their target price for the company from $13.50 to $13.00 in a report on Wednesday, April 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of "Hold" and a consensus price target of $13.83.

Huntington Bancshares Profile

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.