Wilmington Savings Fund Society FSB Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wilmington Savings Fund Society FSB decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,589 shares of the bank’s stock after selling 3,922 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Huntington Bancshares were worth $1,474,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HBAN. Vest Financial LLC grew its position in shares of Huntington Bancshares by 48.5% during the 4th quarter. Vest Financial LLC now owns 150,241 shares of the bank’s stock valued at $2,444,000 after acquiring an additional 49,070 shares during the period. Strategic Financial Concepts LLC purchased a new position in Huntington Bancshares during the fourth quarter valued at $359,000. GHP Investment Advisors Inc. grew its holdings in Huntington Bancshares by 3.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 169,527 shares of the bank’s stock valued at $2,758,000 after purchasing an additional 5,535 shares during the period. YANKCOM Partnership purchased a new stake in Huntington Bancshares in the fourth quarter worth about $583,000. Finally, Centennial Wealth Advisory LLC raised its stake in shares of Huntington Bancshares by 5.2% in the fourth quarter. Centennial Wealth Advisory LLC now owns 42,360 shares of the bank’s stock worth $689,000 after buying an additional 2,093 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

HBAN opened at $16.92 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The business’s fifty day simple moving average is $16.84 and its 200-day simple moving average is $15.82. The company has a market capitalization of $24.58 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.41 and a beta of 1.07. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results 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 net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the business posted $0.27 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.66%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s 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 transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. DA Davidson boosted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, Barclays upped their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $18.06.

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.