Park Avenue Securities LLC Has $915,000 Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Park Avenue Securities LLC boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,219 shares of the bank’s stock after buying an additional 4,703 shares during the quarter. Park Avenue Securities LLC’s holdings in Huntington Bancshares were worth $915,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the 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 sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

Huntington Bancshares Trading Up 0.5 %

Shares of NASDAQ HBAN opened at $17.10 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44. The firm has a 50 day moving average price of $17.04 and a two-hundred day moving average price of $15.54. The stock has a market cap of $24.84 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.07.

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, beating 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 period in the previous year, the company posted $0.27 earnings per share. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.36 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.63%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.41%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HBAN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday. DA Davidson upped their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods lifted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stephens reiterated an “equal weight” rating and issued a $18.50 target price on shares of Huntington Bancshares in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $18.06.

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.