Allstate Corp Purchases Shares of 42,974 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Allstate Corp purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 42,974 shares of the bank's stock, valued at approximately $699,000.

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

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Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Robert W. Baird raised shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price on the stock in a report on Friday, March 7th. Citigroup cut their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.94.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,781 shares of company stock valued at $1,631,151. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded down $0.86 on Friday, hitting $12.60. The company's stock had a trading volume of 28,687,049 shares, compared to its average volume of 17,069,008. The stock has a 50 day moving average of $15.79 and a 200-day moving average of $16.14. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.45. 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 (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company posted $0.27 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current 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 paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.92%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares's payout ratio is 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.