Gateway Investment Advisers LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 12,384 shares of the bank’s stock, valued at approximately $175,000.
Other hedge funds have also bought and sold shares of the company. CI Investments Inc. lifted its stake in Huntington Bancshares by 994.3% in the 3rd quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock worth $25,000 after purchasing an additional 1,730 shares in the last quarter. Allworth Financial LP lifted its stake in Huntington Bancshares by 91.9% in the 3rd quarter. Allworth Financial LP now owns 1,998 shares of the bank’s stock worth $26,000 after purchasing an additional 957 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Huntington Bancshares by 149.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock worth $34,000 after purchasing an additional 1,543 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in Huntington Bancshares in the 2nd quarter worth $36,000. Finally, Horan Securities Inc. lifted its stake in Huntington Bancshares by 111.3% in the 3rd quarter. Horan Securities Inc. now owns 3,087 shares of the bank’s stock worth $41,000 after purchasing an additional 1,626 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Huntington Bancshares Stock Performance
Shares of NASDAQ:HBAN opened at $10.78 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 5.35 and a beta of 1.11. The firm’s 50-day moving average is $14.14 and its 200 day moving average is $14.25. Huntington Bancshares Incorporated has a 12 month low of $9.94 and a 12 month high of $15.74.
Huntington Bancshares Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be paid a $0.155 dividend. The ex-dividend date is Friday, March 17th. This represents a $0.62 dividend on an annualized basis and a yield of 5.75%. Huntington Bancshares’s dividend payout ratio is currently 42.76%.
Wall Street Analyst Weigh In
Several brokerages have commented on HBAN. StockNews.com began coverage on shares of Huntington Bancshares in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Wolfe Research upped their target price on shares of Huntington Bancshares from $13.00 to $14.00 in a research report on Thursday, December 1st. Piper Sandler decreased their target price on shares of Huntington Bancshares from $15.00 to $14.50 in a research report on Friday, March 10th. Royal Bank of Canada decreased their target price on shares of Huntington Bancshares from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 14th. Finally, JPMorgan Chase & Co. cut shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $15.50 to $14.50 in a research report on Tuesday, December 13th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.47.
Insiders Place Their Bets
In other Huntington Bancshares news, Director David L. Porteous sold 80,000 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $15.01, for a total value of $1,200,800.00. Following the transaction, the director now directly owns 62,845 shares in the company, valued at approximately $943,303.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.
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