Proficio Capital Partners LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Proficio Capital Partners LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 144,901 shares of the bank’s stock, valued at approximately $2,358,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after acquiring an additional 702 shares during the period. Lantz Financial LLC boosted its position in shares of Huntington Bancshares by 6.1% in the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock worth $224,000 after purchasing an additional 790 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in shares of Huntington Bancshares by 7.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock worth $191,000 after purchasing an additional 795 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Huntington Bancshares by 1.3% in the third quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock valued at $917,000 after purchasing an additional 800 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its stake in Huntington Bancshares by 2.8% in the fourth quarter. Strategic Blueprint LLC now owns 29,140 shares of the bank’s stock valued at $474,000 after buying an additional 804 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction that occurred 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 transaction, the vice president now owns 453,129 shares of the company’s stock, valued at $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HBAN shares. Truist Financial upped their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Barclays lifted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.35.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $14.76 on Wednesday. The stock has a market capitalization of $21.56 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.45. The firm has a fifty day simple moving average of $16.30 and a 200 day simple moving average of $16.13. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 earnings per share. Research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.