Net Worth Advisory Group Grows Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Net Worth Advisory Group increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 114.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,695 shares of the bank’s stock after buying an additional 12,121 shares during the period. Net Worth Advisory Group’s holdings in Huntington Bancshares were worth $369,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $150,444,000. State Street Corp increased its position in shares of Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Amundi raised its stake in Huntington Bancshares by 26.7% in the fourth quarter. Amundi now owns 17,435,207 shares of the bank’s stock valued at $286,460,000 after purchasing an additional 3,671,235 shares in the last quarter. FMR LLC raised its stake in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after buying an additional 2,363,988 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HBAN shares. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods raised their price target 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. Barclays upped their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price on the stock in a research report on Friday, March 7th. Finally, StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.40 on Wednesday. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.33 and a beta of 1.07. The stock has a fifty day moving average of $16.48 and a 200 day moving average of $16.13. 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.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate 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 business posted $0.27 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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 issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.31%. Huntington Bancshares’s dividend payout ratio (DPR) is 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.