Exchange Traded Concepts LLC Boosts Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Exchange Traded Concepts LLC grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 10.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,709 shares of the bank's stock after purchasing an additional 27,406 shares during the quarter. Exchange Traded Concepts LLC's holdings in Huntington Bancshares were worth $4,567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Asset Dedication LLC lifted its holdings in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock worth $26,000 after buying an additional 1,202 shares during the period. Peoples Bank KS bought a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter valued at approximately $31,000. Fortitude Family Office LLC bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $32,000. Finally, UMB Bank n.a. raised its holdings in Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank's stock worth $67,000 after purchasing an additional 728 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares of the company's stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HBAN. Evercore ISI boosted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. DA Davidson raised their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a research note on Monday, October 21st. Stephens reissued an "equal weight" rating and issued a $18.50 price target on shares of Huntington Bancshares in a research report on Tuesday. Finally, The Goldman Sachs Group raised their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average price target of $18.06.

Huntington Bancshares Stock Performance

NASDAQ:HBAN traded up $0.30 on Friday, hitting $17.20. The stock had a trading volume of 20,478,650 shares, compared to its average volume of 14,545,722. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44. The stock has a market cap of $24.99 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The business's 50-day simple moving average is $17.00 and its two-hundred day simple moving average is $15.59.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the business earned $0.27 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.60%. Huntington Bancshares's dividend payout ratio (DPR) is presently 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.