Advisory Alpha LLC Buys 2,589 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Advisory Alpha LLC lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,782 shares of the bank’s stock after acquiring an additional 2,589 shares during the quarter. Advisory Alpha LLC’s holdings in Huntington Bancshares were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after purchasing an additional 728 shares in the last quarter. Dillon & Associates Inc. grew its position in shares of Huntington Bancshares by 5.9% during the 3rd quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock worth $215,000 after buying an additional 795 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Huntington Bancshares by 1.3% during the third quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock valued at $917,000 after buying an additional 800 shares during the period. Lake Street Advisors Group LLC raised its holdings in shares of Huntington Bancshares by 5.0% in the third quarter. Lake Street Advisors Group LLC now owns 17,783 shares of the bank’s stock valued at $264,000 after acquiring an additional 846 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in Huntington Bancshares by 1.1% in the third quarter. Metis Global Partners LLC now owns 79,427 shares of the bank’s stock worth $1,168,000 after acquiring an additional 885 shares during the period. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HBAN. Barclays raised their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Stephens reissued an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a report on Tuesday. Evercore ISI upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reduced their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $16.86 on Thursday. The firm has a market capitalization of $24.49 billion, a P/E ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.44. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average price of $17.02 and a 200 day moving average price of $15.55.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the company earned $0.27 earnings per share. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.37 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.68%. Huntington Bancshares’s payout ratio is presently 50.41%.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.