43,200 Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN) Bought by Summit Securities Group LLC

Summit Securities Group LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 43,200 shares of the bank’s stock, valued at approximately $703,000.

Other hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC boosted its position in shares of Huntington Bancshares by 8.3% in the third quarter. Intech Investment Management LLC now owns 34,985 shares of the bank’s stock valued at $514,000 after acquiring an additional 2,693 shares during the period. FMR LLC boosted its holdings in Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares during the period. D.A. Davidson & CO. grew its position in Huntington Bancshares by 28.3% in the 3rd quarter. D.A. Davidson & CO. now owns 22,924 shares of the bank’s stock worth $337,000 after purchasing an additional 5,058 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Huntington Bancshares by 37.8% during the third quarter. Townsquare Capital LLC now owns 46,134 shares of the bank’s stock valued at $678,000 after buying an additional 12,660 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after buying an additional 44,662 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $14.79 on Friday. The stock’s fifty day moving average is $16.07 and its 200-day moving average is $16.14. The stock has a market capitalization of $21.60 billion, a PE ratio of 12.02, a PEG 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. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $0.27 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.19%. Huntington Bancshares’s payout ratio is presently 50.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HBAN shares. Truist Financial upped their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. reissued 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. Keefe, Bruyette & Woods raised their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.18.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,781 shares of company stock worth $1,631,151. Insiders own 0.89% of the company’s stock.

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.