PFG Investments LLC Takes $407,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

PFG Investments LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,202 shares of the bank’s stock, valued at approximately $407,000.

A number of other hedge funds have also made changes to their positions in the company. Raymond James & Associates increased its position in Huntington Bancshares by 3.1% during the 1st quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock worth $103,276,000 after purchasing an additional 225,911 shares in the last quarter. American National Bank & Trust Co. VA purchased a new stake in Huntington Bancshares during the 1st quarter worth about $785,000. First Trust Direct Indexing L.P. increased its position in Huntington Bancshares by 25.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 32,725 shares of the bank’s stock worth $457,000 after purchasing an additional 6,564 shares in the last quarter. Norden Group LLC purchased a new stake in Huntington Bancshares during the 1st quarter worth about $551,000. Finally, Valley National Advisers Inc. increased its position in Huntington Bancshares by 73.0% during the 1st quarter. Valley National Advisers Inc. now owns 7,736 shares of the bank’s stock worth $107,000 after purchasing an additional 3,265 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the sale, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,489 shares of company stock worth $2,286,999. 0.92% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Down 0.7 %

Shares of NASDAQ:HBAN traded down $0.10 during mid-day trading on Tuesday, hitting $13.47. 15,679,438 shares of the company traded hands, compared to its average volume of 17,599,072. The firm has a market cap of $19.51 billion, a P/E ratio of 12.14, a PEG ratio of 2.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $14.07. The firm’s 50 day simple moving average is $13.38 and its 200 day simple moving average is $12.31.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period last year, the business posted $0.38 EPS. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 4.60%. Huntington Bancshares’s payout ratio is currently 55.86%.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Citigroup raised their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $12.00 to $15.00 in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $15.17.

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.