Greenwood Capital Associates LLC Invests $6.03 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Greenwood Capital Associates LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 370,624 shares of the bank’s stock, valued at approximately $6,030,000.

A number of other institutional investors have also added to or reduced their stakes in HBAN. UMB Bank n.a. boosted its stake in Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after buying an additional 728 shares in the last quarter. Lantz Financial LLC lifted its holdings in shares of Huntington Bancshares by 6.1% during the fourth quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock valued at $224,000 after acquiring an additional 790 shares during the period. Dillon & Associates Inc. boosted its stake in shares of Huntington Bancshares by 5.9% in the 3rd quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock valued at $215,000 after purchasing an additional 795 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in shares of Huntington Bancshares by 7.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock worth $191,000 after purchasing an additional 795 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock worth $917,000 after purchasing an additional 800 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Up 0.5 %

Huntington Bancshares stock opened at $16.92 on Tuesday. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The firm has a market capitalization of $24.58 billion, a PE ratio of 13.77, a P/E/G ratio of 1.42 and a beta of 1.07. The company’s 50-day moving average is $16.93 and its 200-day moving average is $15.76. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data 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 return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the business earned $0.27 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.4 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. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s payout ratio is presently 50.41%.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler lowered their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Truist Financial boosted their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.06.

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.