Vest Financial LLC Buys 49,070 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Vest Financial LLC grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 48.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,241 shares of the bank's stock after purchasing an additional 49,070 shares during the period. Vest Financial LLC's holdings in Huntington Bancshares were worth $2,444,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after buying an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock valued at $921,778,000 after buying an additional 1,522,767 shares during the period. Geode Capital Management LLC raised its holdings in Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank's stock valued at $540,422,000 after buying an additional 473,893 shares during the period. FMR LLC raised its holdings in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $348,672,000 after buying an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock valued at $298,682,000 after buying an additional 2,363,988 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of analyst reports. Stephens reiterated an "equal weight" rating and set a $18.50 price objective on shares of Huntington Bancshares in a research note on Friday, February 7th. Piper Sandler dropped their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $20.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Finally, DA Davidson lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.06.

Huntington Bancshares Price Performance

Huntington Bancshares stock traded down $0.27 during mid-day trading on Wednesday, hitting $16.59. 14,262,396 shares of the company were exchanged, compared to its average volume of 19,353,172. 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 has a fifty day moving average of $16.79 and a 200 day moving average of $15.85. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.44. The company has a market capitalization of $24.10 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Friday, January 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%. During the same quarter last year, the company earned $0.27 earnings per share. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares's dividend payout ratio is 50.41%.

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.