Focus Partners Wealth Acquires 5,956 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Focus Partners Wealth lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,207 shares of the bank’s stock after buying an additional 5,956 shares during the quarter. Focus Partners Wealth’s holdings in Huntington Bancshares were worth $2,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. National Bank of Canada FI raised its position in shares of Huntington Bancshares by 220.9% during the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock valued at $59,661,000 after acquiring an additional 2,524,077 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Huntington Bancshares by 17.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock valued at $13,832,000 after purchasing an additional 129,106 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Huntington Bancshares in the fourth quarter valued at about $422,000. Donoghue Forlines LLC bought a new position in Huntington Bancshares during the fourth quarter worth about $1,460,000. Finally, Czech National Bank grew its position in shares of Huntington Bancshares by 6.5% during the 4th quarter. Czech National Bank now owns 314,999 shares of the bank’s stock worth $5,125,000 after buying an additional 19,123 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the transaction, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. This trade represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares of the company’s stock, valued at $731,237.50. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is owned by insiders.

Huntington Bancshares Trading Up 0.1%

Shares of Huntington Bancshares stock opened at $16.10 on Friday. The stock has a market cap of $23.52 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.33 and a beta of 0.89. 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 Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The business’s 50 day moving average is $14.42 and its 200-day moving average is $15.96.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the firm posted $0.27 EPS. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares declared that its board has approved a share repurchase program on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.85%. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price objective on the stock in a research note on Thursday, April 24th. Piper Sandler decreased their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley decreased their target price on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, TD Cowen started coverage on Huntington Bancshares in a research report on Thursday. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $17.58.

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.