Exchange Traded Concepts LLC Buys 27,406 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Exchange Traded Concepts LLC increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 280,709 shares of the bank’s stock after purchasing an additional 27,406 shares during the period. Exchange Traded Concepts LLC’s holdings in Huntington Bancshares were worth $4,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new position in Huntington Bancshares during the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $31,000. Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $32,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Huntington Bancshares in the fourth quarter worth $73,000. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HBAN. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Piper Sandler dropped their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday. Citigroup raised their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.20 on Friday. The firm has a market cap of $24.99 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. The business’s 50 day moving average is $17.00 and its 200-day moving average is $15.59. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its 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 return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the company earned $0.27 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given 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 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.