Strategic Financial Concepts LLC Makes New $359,000 Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Strategic Financial Concepts LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,035 shares of the bank's stock, valued at approximately $359,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank's stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the last quarter. FMR LLC increased its holdings in Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank's stock worth $348,672,000 after acquiring an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock worth $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after acquiring an additional 1,522,767 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Huntington Bancshares by 37.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,402,801 shares of the bank's stock worth $64,721,000 after acquiring an additional 1,199,012 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HBAN shares. JPMorgan Chase & Co. restated an "overweight" rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Barclays raised their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Citigroup raised their target price on Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.06.

Huntington Bancshares Stock Down 1.6 %

Huntington Bancshares stock traded down $0.27 during mid-day trading on Friday, hitting $16.15. The company had a trading volume of 32,918,112 shares, compared to its average volume of 19,590,543. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock's 50 day moving average price is $16.70 and its two-hundred day moving average price is $15.93. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. The company has a market capitalization of $23.48 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.36 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. 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 business earned $0.27 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared 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 3.84%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares's payout ratio is currently 50.41%.

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.