Atlanta Consulting Group Advisors LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Atlanta Consulting Group Advisors LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 57,479 shares of the bank’s stock, valued at approximately $845,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its holdings in Huntington Bancshares by 251,152.2% in the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after acquiring an additional 173,295 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Huntington Bancshares by 53.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock worth $22,577,000 after purchasing an additional 564,729 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $744,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Huntington Bancshares by 40.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after purchasing an additional 55,865 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Huntington Bancshares by 531.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after buying an additional 968,331 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HBAN has been the topic of a number of research reports. Citigroup raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Barclays boosted their price target 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. DA Davidson increased their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Piper Sandler lifted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares 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, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares in the company, 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 sold a total of 43,699 shares of company stock worth $757,356 over the last three months. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Up 0.9 %

HBAN opened at $17.69 on Friday. 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 has a market cap of $25.70 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.53 and a beta of 1.03. Huntington Bancshares Incorporated has a 12 month low of $10.73 and a 12 month high of $17.97. The stock has a fifty day moving average price of $15.38 and a 200-day moving average price of $14.33.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping 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 business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 3.50%. Huntington Bancshares’s payout ratio is 59.62%.

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.