1900 Wealth Management LLC Invests $584,000 in Huntington Bancshares Incorporated $HBAN

1900 Wealth Management LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, Holdings Channel reports. The fund bought 33,371 shares of the bank’s stock, valued at approximately $584,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Huntington Bancshares by 5.0% in the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after acquiring an additional 1,366 shares in the last quarter. Woodline Partners LP raised its position in shares of Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after acquiring an additional 35,574 shares in the last quarter. M&T Bank Corp raised its position in shares of Huntington Bancshares by 6.3% in the 2nd quarter. M&T Bank Corp now owns 83,645 shares of the bank’s stock worth $1,402,000 after acquiring an additional 4,927 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Huntington Bancshares by 548.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,389,021 shares of the bank’s stock valued at $40,040,000 after purchasing an additional 2,020,590 shares during the period. Finally, PharVision Advisers LLC purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at approximately $186,000. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, Director Gary Torgow bought 14,200 shares of the stock in a transaction on Thursday, February 19th. The shares were bought at an average price of $17.81 per share, with a total value of $252,902.00. Following the completion of the acquisition, the director owned 943,341 shares in the company, valued at $16,800,903.21. The trade was a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. 0.67% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $15.79 on Friday. The firm’s 50-day moving average price is $16.75 and its 200-day moving average price is $16.79. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $19.45. The company has a market cap of $32.17 billion, a PE ratio of 11.36, a PEG ratio of 0.64 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HBAN. Evercore initiated coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price target on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a report on Friday, January 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 6th. UBS Group set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Finally, Truist Financial dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.43.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.