NewEdge Advisors LLC Grows Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

NewEdge Advisors LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 51.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 337,368 shares of the bank's stock after acquiring an additional 115,244 shares during the period. NewEdge Advisors LLC's holdings in Huntington Bancshares were worth $5,489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. Canada Post Corp Registered Pension Plan purchased a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $781,000. XTX Topco Ltd purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at $2,243,000. CreativeOne Wealth LLC lifted its stake in Huntington Bancshares by 4.0% during the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock worth $326,000 after acquiring an additional 762 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in Huntington Bancshares by 5.2% during the 4th quarter. Cohen & Steers Inc. now owns 24,453 shares of the bank's stock valued at $398,000 after acquiring an additional 1,209 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new position in Huntington Bancshares in the 4th quarter valued at about $317,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Price Performance

NASDAQ:HBAN traded down $0.11 during mid-day trading on Friday, hitting $14.45. 6,728,341 shares of the company's stock traded hands, compared to its average volume of 17,288,527. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market cap of $21.10 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The firm's 50 day simple moving average is $14.65 and its 200 day simple moving average is $15.99. 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 issued 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. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $0.27 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.29%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the transaction, the vice president now directly owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 207,617 shares of company stock worth $2,942,892. Corporate insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday. Citigroup dropped their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Stephens restated an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research note on Monday. Royal Bank of Canada decreased their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Morgan Stanley dropped their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.45.

Huntington Bancshares 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.