Atlantic Family Wealth LLC Acquires New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Atlantic Family Wealth LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 12,515 shares of the bank’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently added to or reduced their stakes in HBAN. Creative Capital Management Investments LLC increased its holdings in 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 valued at $26,000 after buying an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd increased 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 buying an additional 1,023 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Huntington Bancshares in the third quarter valued at about $32,000. Asset Dedication LLC increased 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 buying an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC increased 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 buying an additional 702 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 1.6 %

Shares of HBAN opened at $16.15 on Friday. The firm has a market cap of $23.48 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company’s fifty day moving average is $16.68 and its two-hundred day moving average is $15.96. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. 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 (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 business posted $0.27 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm 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 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 dividend payout ratio (DPR) is 50.41%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HBAN shares. Keefe, Bruyette & Woods increased their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Truist Financial raised their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Evercore ISI raised their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.06.

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.