SVB Wealth LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

SVB Wealth LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,333 shares of the bank’s stock, valued at approximately $249,000.

Several other institutional investors also recently modified their holdings of HBAN. Creative Capital Management Investments LLC increased its holdings in shares of Huntington Bancshares by 17,533.3% during the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after buying an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after buying an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter worth $37,000. Asset Dedication LLC increased its holdings in shares of Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after buying an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Barclays increased their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.38 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $22.36 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The firm’s fifty day simple moving average is $16.63 and its two-hundred day simple moving average is $16.10. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) 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 firm posted $0.27 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. 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 4.03%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

About Huntington Bancshares

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.