Advisors Capital Management LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, Holdings Channel.com reports. The fund bought 11,790 shares of the bank’s stock, valued at approximately $148,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DNB Asset Management AS increased its stake in shares of Huntington Bancshares by 7.6% in the 4th quarter. DNB Asset Management AS now owns 146,748 shares of the bank’s stock valued at $1,853,000 after buying an additional 10,411 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Huntington Bancshares by 101.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 288,133 shares of the bank’s stock worth $3,639,000 after purchasing an additional 144,778 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Huntington Bancshares by 27.6% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 812,502 shares of the bank’s stock worth $10,262,000 after purchasing an additional 175,502 shares during the last quarter. Endurance Wealth Management Inc. boosted its position in shares of Huntington Bancshares by 3.4% in the 4th quarter. Endurance Wealth Management Inc. now owns 420,720 shares of the bank’s stock worth $5,314,000 after purchasing an additional 13,745 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Huntington Bancshares by 25.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 122,859 shares of the bank’s stock worth $1,127,000 after purchasing an additional 25,000 shares during the last quarter. 72.59% of the stock is owned by institutional investors.
HBAN opened at $16.08 on Friday. The business’s 50-day moving average price is $15.48 and its two-hundred day moving average price is $12.62. Huntington Bancshares Incorporated has a 1 year low of $6.82 and a 1 year high of $16.91. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 3.26 and a beta of 1.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.91 and a quick ratio of 0.90.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 21st. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.02). Huntington Bancshares had a net margin of 15.34% and a return on equity of 7.70%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business earned $0.28 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 0.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Shareholders of record on Thursday, March 18th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Wednesday, March 17th. Huntington Bancshares’s dividend payout ratio is 47.24%.
Several research analysts have recently issued reports on HBAN shares. Piper Sandler upgraded Huntington Bancshares from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $13.50 to $15.00 in a research report on Tuesday, January 5th. Stephens lowered Huntington Bancshares from an “overweight” rating to an “equal weight” rating and set a $14.00 price target on the stock. in a research report on Thursday, December 17th. Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Monday, February 8th. Raymond James raised their price target on Huntington Bancshares from $15.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Huntington Bancshares from $10.50 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, January 6th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.74.
In related news, EVP Sandra E. Pierce sold 172,909 shares of Huntington Bancshares stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $15.71, for a total value of $2,716,400.39. Following the sale, the executive vice president now owns 425,499 shares of the company’s stock, valued at $6,684,589.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul G. Heller sold 75,646 shares of Huntington Bancshares stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $13.58, for a total value of $1,027,272.68. Following the completion of the sale, the executive vice president now directly owns 503,581 shares in the company, valued at approximately $6,838,629.98. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Huntington Bancshares Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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