Pinnacle Wealth Planning Services Inc. Acquires 10,202 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 80.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,961 shares of the bank’s stock after purchasing an additional 10,202 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Huntington Bancshares were worth $374,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Creative Capital Management Investments LLC increased its stake in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after purchasing an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd increased its stake in Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Huntington Bancshares during the 4th quarter worth approximately $37,000. Transce3nd LLC bought a new stake in Huntington Bancshares during the 4th quarter worth approximately $48,000. Finally, Asset Dedication LLC increased its stake in Huntington Bancshares by 70.0% during the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This trade represents a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares of the company’s stock, valued at $731,237.50. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock valued at $4,464,105 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Trading Down 0.7%

HBAN stock opened at $15.32 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company has a fifty day moving average price of $14.56 and a two-hundred day moving average price of $15.94. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The stock has a market cap of $22.38 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping 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%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the business posted $0.27 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares announced that its board has authorized a share buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.05%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HBAN shares. Citigroup decreased their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Raymond James reaffirmed a “strong-buy” rating and set a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Truist Financial decreased their price target on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $17.83.

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.