Smith Group Asset Management LLC Invests $862,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Smith Group Asset Management LLC bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 53,000 shares of the bank's stock, valued at approximately $862,000.

A number of other large investors have also recently made changes to their positions in the company. Asset Dedication LLC boosted its position in shares of Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after buying an additional 1,260 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Huntington Bancshares by 48.1% during the 4th quarter. Pacer Advisors Inc. now owns 160,578 shares of the bank's stock worth $2,613,000 after acquiring an additional 52,185 shares during the last quarter. Blue Trust Inc. boosted its holdings in Huntington Bancshares by 4.4% during the 4th quarter. Blue Trust Inc. now owns 21,887 shares of the bank's stock valued at $356,000 after acquiring an additional 913 shares during the period. Lantz Financial LLC grew its position in Huntington Bancshares by 6.1% in the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock valued at $224,000 after acquiring an additional 790 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Huntington Bancshares by 3.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 297,134 shares of the bank's stock worth $4,834,000 after purchasing an additional 10,191 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Citigroup upped their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Stephens reaffirmed an "equal weight" rating and set a $18.50 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Truist Financial boosted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Finally, Piper Sandler reduced their price objective on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given 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 Down 1.1 %

NASDAQ:HBAN traded down $0.19 during midday trading on Friday, reaching $17.20. 17,459,451 shares of the stock traded hands, compared to its average volume of 17,443,444. The stock has a market capitalization of $24.99 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44. 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 business has a 50-day moving average of $16.96 and a two-hundred day moving average of $15.74.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 quarter in the prior year, the business posted $0.27 EPS. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.60%. Huntington Bancshares's dividend payout ratio is currently 50.41%.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated 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 sale, the chief financial officer now owns 259,943 shares of the company's stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares Company 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.