Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,444 shares of the bank’s stock after selling 3,781 shares during the period. Alpha Cubed Investments LLC’s holdings in Huntington Bancshares were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Arvest Bank Trust Division acquired a new stake in shares of Huntington Bancshares in the third quarter worth $2,381,000. Heritage Wealth Management Inc. acquired a new stake in Huntington Bancshares during the 2nd quarter worth about $744,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Huntington Bancshares by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after buying an additional 44,662 shares during the last quarter. Petiole USA ltd acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at about $3,454,000. Finally, Franklin Resources Inc. boosted its stake in shares of Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after buying an additional 55,602 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. DA Davidson increased their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Piper Sandler lifted their price target on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Barclays increased their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Citigroup lifted their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.76.

Huntington Bancshares Trading Up 1.0 %

NASDAQ:HBAN opened at $17.01 on Tuesday. The company has a market capitalization of $24.71 billion, a PE ratio of 13.83, a P/E/G ratio of 2.65 and a beta of 1.07. Huntington Bancshares Incorporated has a 52-week low of $12.02 and a 52-week high of $18.44. The stock’s 50 day moving average price is $17.05 and its 200 day moving average price is $15.51. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.27 earnings per share. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.36 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.64%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.