Exchange Traded Concepts LLC Has $4.57 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Exchange Traded Concepts LLC lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,709 shares of the bank’s stock after purchasing an additional 27,406 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Huntington Bancshares were worth $4,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HBAN. Asset Dedication LLC grew its stake in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS acquired a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth $31,000. Fortitude Family Office LLC acquired a new position in Huntington Bancshares in the 3rd quarter worth about $32,000. Finally, UMB Bank n.a. boosted its stake in shares of Huntington Bancshares by 19.1% during 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 in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

HBAN stock opened at $17.20 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company’s 50-day moving average is $17.00 and its 200-day moving average is $15.59. The stock has a market capitalization of $24.99 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced 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 return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company earned $0.27 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HBAN shares. Barclays upped their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial upped their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Stephens restated an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a report on Tuesday. Finally, Citigroup lifted their target price 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 issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $18.06.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly 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 is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.