Aspen Investment Management Inc Sells 12,955 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Aspen Investment Management Inc trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,995 shares of the bank’s stock after selling 12,955 shares during the period. Aspen Investment Management Inc’s holdings in Huntington Bancshares were worth $1,578,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Huntington Bancshares by 77.4% in the 3rd quarter. Blue Trust Inc. now owns 20,974 shares of the bank’s stock valued at $308,000 after purchasing an additional 9,152 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Huntington Bancshares by 11.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 77,732 shares of the bank’s stock valued at $1,143,000 after purchasing an additional 7,976 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in Huntington Bancshares by 18.0% in the third quarter. Foundations Investment Advisors LLC now owns 27,904 shares of the bank’s stock valued at $410,000 after buying an additional 4,257 shares during the period. Elevated Capital Advisors LLC boosted its holdings in Huntington Bancshares by 4.4% during the third quarter. Elevated Capital Advisors LLC now owns 55,911 shares of the bank’s stock worth $822,000 after buying an additional 2,380 shares during the last quarter. Finally, Commonwealth Financial Services LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $154,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Trading Down 2.4 %

Shares of NASDAQ:HBAN opened at $16.42 on Friday. The company’s 50-day moving average price is $16.70 and its two-hundred day moving average price is $15.93. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.44. 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 stock has a market capitalization of $23.87 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.07.

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 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 quarter last year, the firm earned $0.27 EPS. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 annualized dividend and a dividend yield of 3.78%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HBAN. Citigroup increased their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI increased their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 21st. Truist Financial raised their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group boosted their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Company 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.