Raymond James Financial Inc. Takes $150.44 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Raymond James Financial Inc. purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,246,713 shares of the bank’s stock, valued at approximately $150,444,000. Raymond James Financial Inc. owned approximately 0.64% of Huntington Bancshares at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Creative Capital Management Investments LLC lifted its stake in shares of Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after acquiring an additional 1,578 shares during the period. Y.D. More Investments Ltd boosted its holdings in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in Huntington Bancshares in the fourth quarter valued at approximately $37,000. Asset Dedication LLC boosted its holdings in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after acquiring an additional 702 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on HBAN shares. The Goldman Sachs Group upped their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Barclays increased their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.24.

Huntington Bancshares Price Performance

Shares of HBAN opened at $15.14 on Friday. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44. The business’s fifty day moving average is $16.58 and its 200 day moving average is $16.09. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market cap of $22.01 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results 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 return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the company posted $0.27 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s 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.