AssuredPartners Investment Advisors LLC Acquires New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

AssuredPartners Investment Advisors LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, Holdings Channel reports. The firm bought 15,276 shares of the bank’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. NEOS Investment Management LLC grew its stake in shares of Huntington Bancshares by 31.6% during the fourth quarter. NEOS Investment Management LLC now owns 88,068 shares of the bank’s stock worth $1,433,000 after purchasing an additional 21,156 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Huntington Bancshares by 6.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,257,774 shares of the bank’s stock worth $37,140,000 after buying an additional 140,124 shares during the period. Korea Investment CORP increased its stake in shares of Huntington Bancshares by 167.3% in the 4th quarter. Korea Investment CORP now owns 683,524 shares of the bank’s stock valued at $11,121,000 after acquiring an additional 427,768 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Huntington Bancshares by 4.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 217,540 shares of the bank’s stock valued at $3,539,000 after acquiring an additional 9,758 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Huntington Bancshares by 3.3% during the 4th quarter. Prudential Financial Inc. now owns 1,216,233 shares of the bank’s stock worth $19,788,000 after acquiring an additional 38,816 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 2.2 %

NASDAQ HBAN opened at $14.79 on Friday. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $16.07 and a 200-day moving average of $16.13. The company has a market cap of $21.60 billion, a PE ratio of 12.02, a PEG ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 4.19%. Huntington Bancshares’s dividend payout ratio is 50.41%.

Insider Activity

In other news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were 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 in the company, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,781 shares of company stock valued at $1,631,151 over the last three months. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HBAN shares. Stephens reiterated an “equal weight” rating and issued a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. Citigroup reduced their target price on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Truist Financial lifted their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.18.

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.