Proficio Capital Partners LLC Invests $2.36 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Proficio Capital Partners LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 144,901 shares of the bank's stock, valued at approximately $2,358,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Huntington Bancshares by 20.6% during the 4th quarter. Assetmark Inc. now owns 154,829 shares of the bank's stock valued at $2,519,000 after buying an additional 26,433 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Huntington Bancshares by 7.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock worth $355,094,000 after purchasing an additional 1,506,606 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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. Steward Partners Investment Advisory LLC raised its holdings in Huntington Bancshares by 5.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 67,575 shares of the bank's stock worth $1,099,000 after purchasing an additional 3,706 shares in the last quarter. Finally, Bedel Financial Consulting Inc. raised its holdings in Huntington Bancshares by 8.5% in the 4th quarter. Bedel Financial Consulting Inc. now owns 75,952 shares of the bank's stock worth $1,285,000 after purchasing an additional 5,934 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. This represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Up 0.5 %

HBAN stock traded up $0.07 during trading on Friday, hitting $15.02. 99,684,051 shares of the stock traded hands, compared to its average volume of 16,321,178. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The firm's 50 day moving average is $16.23 and its two-hundred day moving average is $16.11. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. 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 announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 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 in the prior year, the business posted $0.27 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares's dividend payout ratio is currently 50.41%.

Analysts Set New Price Targets

Several brokerages have commented on HBAN. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Finally, Piper Sandler reduced their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.35.

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.