M.E. Allison & CO. Inc. Acquires New Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

M.E. Allison & CO. Inc. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,450 shares of the bank’s stock, valued at approximately $268,000.

A number of other institutional investors have also recently added to or reduced their stakes in HBAN. Arvest Bank Trust Division acquired a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $2,381,000. Heritage Wealth Management Inc. bought a new position in shares of Huntington Bancshares in the second quarter valued at $744,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Huntington Bancshares by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares during the last quarter. Petiole USA ltd bought a new stake in shares of Huntington Bancshares during the 3rd quarter worth $3,454,000. Finally, Franklin Resources Inc. raised its position in shares of Huntington Bancshares by 3.2% during the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after purchasing an additional 55,602 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HBAN shares. Truist Financial initiated coverage on Huntington Bancshares in a research note on Tuesday, January 7th. They issued a “buy” rating and a $19.00 price target on the stock. Citigroup upped their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays increased their target price 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, Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $17.76.

Huntington Bancshares Stock Up 1.0 %

Shares of HBAN opened at $17.01 on Monday. Huntington Bancshares Incorporated has a 52 week low of $12.02 and a 52 week high of $18.44. The firm has a market capitalization of $24.71 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $15.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the business posted $0.27 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.64%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

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.