Systematic Financial Management LP Has $1.69 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Systematic Financial Management LP lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 35.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 115,010 shares of the bank’s stock after buying an additional 30,195 shares during the period. Systematic Financial Management LP’s holdings in Huntington Bancshares were worth $1,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HBAN. Asset Dedication LLC increased its holdings 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 buying an additional 1,202 shares during the period. Peoples Bank KS acquired a new stake in shares of Huntington Bancshares during the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. increased its stake in Huntington Bancshares by 695.5% in the second 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 during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares during the third quarter worth $31,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.70 on Friday. The firm has a market cap of $25.71 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.52 and a beta of 1.06. The stock’s 50 day moving average is $16.24 and its 200 day moving average is $14.68. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares Incorporated has a one year low of $11.68 and a one year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $0.36 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock valued at $757,356 in the last ninety days. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Piper Sandler boosted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research note on Tuesday. Evercore ISI raised their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lifted their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.24.

Huntington Bancshares 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.