Financial Advocates Investment Management Trims Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Financial Advocates Investment Management trimmed its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 20.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,181 shares of the bank’s stock after selling 3,382 shares during the period. Financial Advocates Investment Management’s holdings in Huntington Bancshares were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC increased its stake in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Y.D. More Investments Ltd increased its position in Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in Huntington Bancshares during the 4th quarter worth approximately $58,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Huntington Bancshares during the 4th quarter worth approximately $73,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price target on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Piper Sandler decreased their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. Finally, Citigroup upped their price target on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.73 on Tuesday. The business’s fifty day moving average price is $16.82 and its 200 day moving average price is $15.83. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44. The stock has a market capitalization of $24.31 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the firm earned $0.27 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.4 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Buying and Selling

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $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 company insiders.

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.