Arvest Bank Trust Division Takes $2.38 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Arvest Bank Trust Division purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 161,989 shares of the bank's stock, valued at approximately $2,381,000.

A number of other large investors have also added to or reduced their stakes in HBAN. Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock valued at $26,000 after acquiring an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares during the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares in the 3rd quarter worth $31,000. Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank's stock valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company's stock, valued at approximately $4,582,795.09. The trade was a 3.22 % 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, insider Helga Houston sold 6,455 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HBAN has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Sandler O'Neill restated a "buy" rating on shares of Huntington Bancshares in a report on Friday, October 18th. StockNews.com downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, Piper Sandler raised their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.41.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded down $0.22 during trading hours on Thursday, hitting $17.17. The company's stock had a trading volume of 10,665,671 shares, compared to its average volume of 15,821,808. The company has a market cap of $24.94 billion, a PE ratio of 16.59, a PEG ratio of 3.51 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The business has a 50 day moving average price of $16.54 and a two-hundred day moving average price of $14.80. Huntington Bancshares Incorporated has a 12-month low of $11.77 and a 12-month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's dividend payout ratio (DPR) is 59.62%.

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.