Virtus Investment Advisers LLC Has $1.61 Million Stock Holdings in Huntington Bancshares Incorporated $HBAN

Virtus Investment Advisers LLC boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,231 shares of the bank’s stock after acquiring an additional 13,771 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Huntington Bancshares were worth $1,613,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Huntington Bancshares by 23.3% in the first quarter. IFP Advisors Inc now owns 5,552 shares of the bank’s stock worth $83,000 after purchasing an additional 1,049 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of Huntington Bancshares by 19.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 33,698 shares of the bank’s stock valued at $506,000 after buying an additional 5,493 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Huntington Bancshares by 1.1% in the first quarter. Cetera Investment Advisers now owns 710,814 shares of the bank’s stock valued at $10,669,000 after buying an additional 7,399 shares during the period. Prosperity Consulting Group LLC bought a new position in shares of Huntington Bancshares during the first quarter worth about $153,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Huntington Bancshares by 28.6% in the first quarter. Mackenzie Financial Corp now owns 138,555 shares of the bank’s stock worth $2,080,000 after acquiring an additional 30,808 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.27 on Friday. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.33. The company has a market cap of $23.74 billion, a PE ratio of 11.38, a P/E/G ratio of 0.66 and a beta of 1.01. The stock has a 50-day moving average of $16.12 and a 200-day moving average of $16.45. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The business had revenue of $469.00 million for the quarter. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s payout ratio is 43.36%.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 6,416 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $15.65, for a total value of $100,410.40. Following the transaction, the executive vice president owned 252,305 shares of the company’s stock, valued at approximately $3,948,573.25. This trade represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 64,587 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total value of $993,348.06. Following the sale, the insider directly owned 534,640 shares of the company’s stock, valued at $8,222,763.20. This represents a 10.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 112,103 shares of company stock worth $1,833,558 in the last quarter. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

HBAN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Jefferies Financial Group lowered their target price on shares of Huntington Bancshares from $20.00 to $19.00 in a research note on Monday, November 3rd. Truist Financial upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Stephens boosted their price objective on Huntington Bancshares from $18.00 to $19.00 in a research note on Friday, October 17th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $20.00 target price (down previously from $21.00) on shares of Huntington Bancshares in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.64.

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.