Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,989 shares of the bank’s stock after buying an additional 5,597 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Huntington Bancshares were worth $1,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HBAN. Norges Bank purchased a new stake in Huntington Bancshares during the 4th quarter worth about $302,826,000. Raymond James Financial Inc. acquired a new stake in Huntington Bancshares in the fourth quarter valued at approximately $150,444,000. FMR LLC raised its holdings in shares of Huntington Bancshares by 36.9% in the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. Amundi lifted its position in shares of Huntington Bancshares by 26.7% during the 4th quarter. Amundi now owns 17,435,207 shares of the bank’s stock worth $286,460,000 after purchasing an additional 3,671,235 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Huntington Bancshares by 356.1% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,432,186 shares of the bank’s stock worth $72,112,000 after purchasing an additional 3,460,328 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kendall A. Kowalski sold 25,419 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total value of $347,731.92. Following the completion of the sale, the insider now owns 70,281 shares in the company, valued at $961,444.08. This trade represents a 26.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,051 shares of company stock valued at $2,992,685. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 0.4 %

NASDAQ:HBAN opened at $14.64 on Wednesday. The firm’s 50 day simple moving average is $14.52 and its 200 day simple moving average is $15.99. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The company has a market cap of $21.39 billion, a PE ratio of 11.90, a P/E/G ratio of 1.33 and a beta of 0.89. 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 posted its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. 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. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.23%. Huntington Bancshares’s payout ratio is 47.33%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HBAN. Truist Financial decreased their price target on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Stephens reaffirmed an “equal weight” rating and set a $16.50 price objective on shares of Huntington Bancshares in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a research report on Thursday, April 24th. Finally, Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

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.