Alpha Cubed Investments LLC Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Alpha Cubed Investments LLC trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 36,444 shares of the bank’s stock after selling 3,781 shares during the period. Alpha Cubed Investments LLC’s holdings in Huntington Bancshares were worth $593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Asset Dedication LLC boosted 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 worth $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS acquired a new position in Huntington Bancshares in the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth $31,000. Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth $32,000. Finally, UMB Bank n.a. grew its position in shares of Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after purchasing an additional 728 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred 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 transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock valued at $757,356 over the last ninety days. Corporate insiders own 0.92% of the company’s stock.

Huntington Bancshares Trading Up 1.0 %

HBAN opened at $17.01 on Tuesday. The firm’s 50 day moving average is $17.05 and its 200-day moving average is $15.51. Huntington Bancshares Incorporated has a 52-week low of $12.02 and a 52-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. The firm has a market capitalization of $24.71 billion, a P/E ratio of 13.83, a P/E/G ratio of 2.65 and a beta of 1.07.

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 the consensus estimate 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 prior year, the business posted $0.27 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.36 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.64%. Huntington Bancshares’s payout ratio is currently 50.41%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HBAN shares. Evercore ISI raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler boosted their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods upped their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $17.76.

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.