Midwest Capital Advisors LLC Takes $37,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Midwest Capital Advisors LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,290 shares of the bank’s stock, valued at approximately $37,000.

Several other hedge funds have also recently bought and sold shares of the company. Atlantic Family Wealth LLC acquired a new position in Huntington Bancshares during the 4th quarter worth about $204,000. Pinnacle Financial Partners Inc lifted its stake in Huntington Bancshares by 59.8% during the 4th quarter. Pinnacle Financial Partners Inc now owns 19,770 shares of the bank’s stock worth $322,000 after acquiring an additional 7,397 shares in the last quarter. Bell Bank lifted its stake in Huntington Bancshares by 11.0% during the 4th quarter. Bell Bank now owns 558,470 shares of the bank’s stock worth $9,086,000 after acquiring an additional 55,163 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Huntington Bancshares by 141.7% during the 4th quarter. Wolverine Asset Management LLC now owns 51,308 shares of the bank’s stock worth $835,000 after acquiring an additional 30,081 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Huntington Bancshares by 6.2% during the 4th quarter. Handelsbanken Fonder AB now owns 427,845 shares of the bank’s stock worth $6,961,000 after acquiring an additional 25,017 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Evercore ISI upped their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Stephens restated an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a report on Friday, February 7th. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Trading Down 1.6 %

NASDAQ:HBAN opened at $16.15 on Monday. The stock’s 50 day moving average price is $16.68 and its 200 day moving average price is $15.98. The company has a market capitalization of $23.48 billion, a PE ratio of 13.13, a P/E/G ratio of 1.33 and a beta of 1.07. 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 Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly 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 quarter in the prior year, the firm posted $0.27 EPS. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.84%. 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.