Wealthcare Advisory Partners LLC Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wealthcare Advisory Partners LLC raised its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 75.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,022 shares of the bank’s stock after acquiring an additional 9,441 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Huntington Bancshares were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HBAN. Asset Dedication LLC increased its stake in shares of Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares during the 3rd quarter valued at $31,000. Fortitude Family Office LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth about $32,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Huntington Bancshares during the 4th quarter worth about $73,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 0.5 %

Huntington Bancshares stock opened at $17.10 on Wednesday. The stock has a market cap of $24.84 billion, a PE ratio of 13.90, a P/E/G ratio of 2.65 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $17.04 and a 200 day moving average price of $15.54. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the prior year, the firm posted $0.27 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.36 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.63%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HBAN. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. DA Davidson upped their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research note on Tuesday. Citigroup increased their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Truist Financial raised their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.06.

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.