Fourth Dimension Wealth LLC Purchases Shares of 5,362 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fourth Dimension Wealth LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,362 shares of the bank’s stock, valued at approximately $87,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. Norges Bank acquired a new stake in shares of Huntington Bancshares in the 4th quarter worth about $302,826,000. Raymond James Financial Inc. acquired a new stake in shares of Huntington Bancshares in the 4th quarter worth about $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 worth $528,434,000 after acquiring an additional 8,759,871 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Huntington Bancshares by 126.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank’s stock worth $114,684,000 after acquiring an additional 3,938,769 shares during the last quarter. Finally, Amundi raised its holdings in shares of Huntington Bancshares by 26.7% in the 4th quarter. Amundi now owns 17,435,207 shares of the bank’s stock worth $286,460,000 after acquiring an additional 3,671,235 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HBAN shares. Citigroup lowered their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Truist Financial lowered their target price on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 target price on the stock in a report on Thursday, April 24th. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price on the stock in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $17.83.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, 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 transaction of $347,731.92. Following the sale, the insider now owns 70,281 shares in the company, valued at $961,444.08. This represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,456 shares of company stock worth $4,464,105. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $15.32 on Friday. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The business’s 50 day simple moving average is $14.56 and its 200 day simple moving average is $15.97. The company has a market cap of $22.38 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 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 11.23% and a net margin of 16.23%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

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 is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.05%. Huntington Bancshares’s payout ratio is 47.33%.

Huntington Bancshares announced that its board has initiated a stock repurchase program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.