Genesis Private Wealth LLC Invests $175,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Genesis Private Wealth LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,726 shares of the bank’s stock, valued at approximately $175,000.

Other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in shares of Huntington Bancshares in the 2nd quarter worth approximately $426,000. Pacer Advisors Inc. grew its position in Huntington Bancshares by 4.6% in the second quarter. Pacer Advisors Inc. now owns 103,822 shares of the bank’s stock worth $1,368,000 after buying an additional 4,541 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Huntington Bancshares by 6.3% in the second quarter. Sei Investments Co. now owns 635,013 shares of the bank’s stock valued at $8,369,000 after buying an additional 37,816 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Huntington Bancshares by 8.5% during the 2nd quarter. Summit Trail Advisors LLC now owns 16,479 shares of the bank’s stock worth $220,000 after acquiring an additional 1,294 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Huntington Bancshares by 10.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 792,641 shares of the bank’s stock worth $10,447,000 after acquiring an additional 75,130 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’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 transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Price Performance

Shares of HBAN opened at $16.86 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $24.49 billion, a PE ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The firm’s 50 day moving average price is $17.02 and its 200 day moving average price is $15.55.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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%. During the same period last year, the firm posted $0.27 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.37 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is 50.41%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Citigroup upped 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. The Goldman Sachs Group lifted their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $18.06.

About Huntington Bancshares

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.