Fortem Financial Group LLC Boosts Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fortem Financial Group LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 83,244 shares of the bank’s stock after buying an additional 2,621 shares during the period. Fortem Financial Group LLC’s holdings in Huntington Bancshares were worth $1,354,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Arvest Bank Trust Division purchased a new stake in shares of Huntington Bancshares during the third quarter valued at $2,381,000. Heritage Wealth Management Inc. purchased a new position in shares of Huntington Bancshares during the second quarter valued at approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Huntington Bancshares by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after purchasing an additional 44,662 shares during the period. Petiole USA ltd bought a new stake in shares of Huntington Bancshares in the third quarter worth $3,454,000. Finally, Franklin Resources Inc. increased its position in Huntington Bancshares by 3.2% during the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after acquiring an additional 55,602 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBAN has been the topic of several recent research reports. DA Davidson increased their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group raised their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler boosted their price target on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.69.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.10 during midday trading on Monday, reaching $16.55. 12,328,630 shares of the stock traded hands, compared to its average volume of 15,593,791. The company’s 50 day moving average is $16.98 and its 200 day moving average is $15.23. Huntington Bancshares Incorporated has a one year low of $12.02 and a one year high of $18.44. The stock has a market capitalization of $24.04 billion, a PE ratio of 15.91, a P/E/G ratio of 3.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the previous year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s 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 sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. Company 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.