Focus Partners Wealth Has $2.27 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Focus Partners Wealth lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,207 shares of the bank’s stock after purchasing an additional 5,956 shares during the period. Focus Partners Wealth’s holdings in Huntington Bancshares were worth $2,265,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HBAN. Charles Schwab Investment Management Inc. lifted its position in shares of Huntington Bancshares by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after buying an additional 2,218,020 shares during the last quarter. Invesco Ltd. lifted its holdings in Huntington Bancshares by 4.6% in the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock worth $855,802,000 after purchasing an additional 2,310,502 shares during the last quarter. FMR LLC boosted its position in Huntington Bancshares by 36.9% during the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock worth $528,434,000 after purchasing an additional 8,759,871 shares during the period. Victory Capital Management Inc. grew its holdings in Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $302,826,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $16.10 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The business’s fifty day moving average price is $14.42 and its two-hundred day moving average price is $15.96. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The stock has a market capitalization of $23.52 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares announced that its board has authorized a share repurchase program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s payout ratio is currently 47.33%.

Insider Buying and Selling

In related news, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value 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. This trade represents 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 the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,456 shares of company stock worth $4,464,105 in the last three months. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price objective for the company in a report on Thursday, April 24th. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Friday, March 7th. Truist Financial cut their price objective on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Stephens reaffirmed an “equal weight” rating and issued a $16.50 target price on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.58.

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.