Sagespring Wealth Partners LLC Acquires Shares of 19,496 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Sagespring Wealth Partners LLC acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,496 shares of the bank's stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares in the last quarter. Invesco Ltd. raised its position in shares of Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock valued at $855,802,000 after purchasing an additional 2,310,502 shares during the period. FMR LLC lifted its holdings in Huntington Bancshares by 36.9% in the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock valued at $355,094,000 after purchasing an additional 1,506,606 shares in the last quarter. Finally, Norges Bank bought a new stake in Huntington Bancshares in the fourth quarter worth $302,826,000. Institutional investors own 80.72% of the company's stock.

Insider Activity

In related news, VP Brendan A. Lawlor sold 3,521 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares in the company, valued at $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,781 shares of company stock valued at $1,631,151 in the last ninety days. 0.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Stephens reiterated an "equal weight" rating and issued a $18.50 price target on shares of Huntington Bancshares in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Truist Financial increased their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Piper Sandler decreased their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.94.

Huntington Bancshares Stock Up 3.0 %

Shares of Huntington Bancshares stock traded up $0.39 on Friday, reaching $13.66. 31,068,958 shares of the company were exchanged, compared to its average volume of 17,378,346. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock's 50 day moving average price is $14.86 and its 200-day moving average price is $16.00. The company has a market cap of $19.96 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the prior year, the firm posted $0.27 EPS. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares announced that its board has authorized a stock buyback plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.54%. Huntington Bancshares's dividend payout ratio is presently 50.41%.

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.