Verdence Capital Advisors LLC Reduces Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Verdence Capital Advisors LLC lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,839 shares of the bank’s stock after selling 9,696 shares during the period. Verdence Capital Advisors LLC’s holdings in Huntington Bancshares were worth $1,120,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HBAN. Farther Finance Advisors LLC raised its stake in shares of Huntington Bancshares by 19.3% during the third quarter. Farther Finance Advisors LLC now owns 11,618 shares of the bank’s stock valued at $171,000 after purchasing an additional 1,883 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $180,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Huntington Bancshares by 40.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after purchasing an additional 55,865 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $77,000. Finally, Centennial Wealth Advisory LLC raised its stake in shares of Huntington Bancshares by 3.9% during the third quarter. Centennial Wealth Advisory LLC now owns 40,267 shares of the bank’s stock valued at $592,000 after purchasing an additional 1,505 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Barclays lifted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. 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 research note on Wednesday, December 4th. Finally, Truist Financial lifted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.38 on Thursday. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.44. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a fifty day moving average of $16.63 and a 200-day moving average of $16.10.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the business earned $0.27 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.03%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s payout ratio is currently 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.