M.E. Allison & CO. Inc. Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

M.E. Allison & CO. Inc. purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,450 shares of the bank’s stock, valued at approximately $268,000.

Other hedge funds have also made changes to their positions in the company. Asset Dedication LLC increased its stake in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS acquired a new position in Huntington Bancshares during the third quarter worth approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the third quarter worth approximately $31,000. Fortitude Family Office LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $32,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $73,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays increased their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. DA Davidson raised their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.76.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 496,076 shares in the company, 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. In the last ninety days, insiders have sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.01 on Monday. The stock has a market capitalization of $24.71 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The business’s fifty day moving average price is $17.06 and its 200 day moving average price is $15.49. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares Incorporated has a 12-month low of $12.02 and a 12-month high of $18.44.

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 14.19% and a return on equity of 10.72%. During the same period in the prior year, the company posted $0.27 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.64%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

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.