Summit Financial LLC Boosts Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Summit Financial LLC lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 39.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,538 shares of the bank’s stock after buying an additional 4,397 shares during the period. Summit Financial LLC’s holdings in Huntington Bancshares were worth $255,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HBAN. Creative Capital Management Investments LLC boosted its holdings in shares of Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares during the period. Midwest Capital Advisors LLC purchased a new stake in Huntington Bancshares in the fourth quarter worth approximately $37,000. Asset Dedication LLC grew its position in Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after buying an additional 702 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Trading Down 6.4 %

Shares of HBAN opened at $12.60 on Friday. The firm has a market cap of $18.41 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The company has a 50 day simple moving average of $15.79 and a two-hundred day simple moving average of $16.13.

Huntington Bancshares (NASDAQ:HBAN) last posted its 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 net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a $0.155 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.92%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analyst Ratings Changes

HBAN has been the subject of several research analyst reports. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. lowered their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, Morgan Stanley decreased their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.94.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now owns 47,950 shares of the company’s stock, valued at $731,237.50. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,781 shares of company stock worth $1,631,151. Corporate insiders own 0.89% of the company’s stock.

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.