Asset Dedication LLC Grows Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Asset Dedication LLC grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 70.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,061 shares of the bank’s stock after acquiring an additional 1,260 shares during the quarter. Asset Dedication LLC’s holdings in Huntington Bancshares were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Peoples Bank KS bought a new stake in Huntington Bancshares in the 3rd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the third quarter valued at approximately $31,000. Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $32,000. UMB Bank n.a. lifted its holdings in Huntington Bancshares by 19.1% during the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new position in Huntington Bancshares in the fourth quarter worth $73,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 1.3 %

Shares of HBAN stock opened at $17.39 on Friday. The company has a market capitalization of $25.26 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44. The business’s fifty day moving average is $16.97 and its 200 day moving average is $15.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 in the previous year, the company posted $0.27 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.57%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was 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 of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on HBAN. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Stephens reiterated an “equal weight” rating and issued a $18.50 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Barclays raised their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $18.06.

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.