Summit Financial LLC Purchases 4,397 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Summit Financial LLC lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 39.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,538 shares of the bank’s stock after acquiring an additional 4,397 shares during the period. Summit Financial LLC’s holdings in Huntington Bancshares were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Creative Capital Management Investments LLC increased its stake in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd increased its position in Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after buying an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Huntington Bancshares during the 4th quarter worth approximately $37,000. Asset Dedication LLC boosted its holdings in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after acquiring an additional 702 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares of the company’s stock, valued at $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock worth $1,631,151 over the last quarter. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HBAN has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial upped their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Barclays boosted their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $17.94.

Huntington Bancshares Stock Down 6.4 %

Huntington Bancshares stock opened at $12.60 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $18.41 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.33 and a beta of 0.89. The firm has a 50 day moving average price of $15.79 and a 200-day moving average price of $16.13. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.45.

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

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

About Huntington Bancshares

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.