Longboard Asset Management LP Acquires Shares of 10,503 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Longboard Asset Management LP acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,503 shares of the bank’s stock, valued at approximately $171,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Dedication LLC raised its stake in Huntington Bancshares by 200.7% during the third 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 in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $31,000. Fortitude Family Office LLC bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $58,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Ratings Changes

HBAN has been the subject of several recent research reports. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. The Goldman Sachs Group upped their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Evercore ISI increased their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The shares were 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 owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.87 on Wednesday. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.44. The stock has a fifty day moving average of $16.90 and a 200-day moving average of $15.78. The company has a market capitalization of $24.51 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.68%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

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.