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Paragon Capital Management Ltd Has $190,000 Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Financial News Live · Sep 25, 2022 11:31

Paragon Capital Management Ltd grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 13.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,812 shares of the bank's stock after acquiring an additional 1,881 shares during the quarter. Paragon Capital Management Ltd's holdings in Huntington Bancshares were worth $190,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HBAN. Ninety One UK Ltd acquired a new position in shares of Huntington Bancshares during the 1st quarter valued at about $203,919,000. Norges Bank acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $213,579,000. Invesco Ltd. raised its holdings in shares of Huntington Bancshares by 25.7% in the 1st quarter. Invesco Ltd. now owns 38,854,627 shares of the bank's stock worth $568,053,000 after buying an additional 7,947,366 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Huntington Bancshares by 6.0% in the 1st quarter. BlackRock Inc. now owns 136,897,261 shares of the bank's stock worth $2,001,438,000 after buying an additional 7,774,643 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Huntington Bancshares in the 1st quarter worth approximately $47,578,000. Institutional investors and hedge funds own 79.77% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HBAN shares. The Goldman Sachs Group dropped their price target on Huntington Bancshares from $17.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, May 31st. Morgan Stanley reduced their price target on Huntington Bancshares from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods lowered Huntington Bancshares from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $17.00 to $15.00 in a research report on Thursday, June 2nd. Wedbush lowered Huntington Bancshares from an "outperform" rating to a "neutral" rating and set a $14.00 target price on the stock. in a report on Thursday, June 30th. Finally, Jefferies Financial Group reduced their target price on Huntington Bancshares from $14.50 to $13.00 in a report on Monday, July 11th. 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 given a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Hold" and an average target price of $15.13.

Insider Transactions at Huntington Bancshares

In related news, Director Gary Torgow purchased 19,382 shares of the stock in a transaction dated Wednesday, July 27th. The stock was bought at an average cost of $12.90 per share, for a total transaction of $250,027.80. Following the completion of the acquisition, the director now owns 893,301 shares of the company's stock, valued at $11,523,582.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Zachary Jacob Wasserman sold 11,618 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total value of $166,834.48. Following the completion of the sale, the chief financial officer now directly owns 230,394 shares in the company, valued at $3,308,457.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Torgow acquired 19,382 shares of the firm's stock in a transaction that occurred on Wednesday, July 27th. The stock was bought at an average price of $12.90 per share, with a total value of $250,027.80. Following the completion of the acquisition, the director now directly owns 893,301 shares of the company's stock, valued at $11,523,582.90. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company's stock.

Huntington Bancshares Price Performance

NASDAQ HBAN traded down $0.22 on Friday, hitting $13.19. 23,118,895 shares of the company's stock were exchanged, compared to its average volume of 17,367,218. The stock has a 50-day moving average of $13.62 and a 200-day moving average of $13.52. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. Huntington Bancshares Incorporated has a 52 week low of $11.67 and a 52 week high of $17.79. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 11.78 and a beta of 1.18.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same period in the prior year, the company earned $0.35 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.46 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, September 16th. This represents a $0.62 annualized dividend and a dividend yield of 4.70%. Huntington Bancshares's dividend payout ratio (DPR) is presently 55.36%.

Huntington Bancshares Company Profile

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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).