Genesis Private Wealth LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Genesis Private Wealth LLC acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,726 shares of the bank’s stock, valued at approximately $175,000.

Several other hedge funds have also made changes to their positions in the stock. Asset Dedication LLC raised its holdings in Huntington Bancshares by 200.7% in 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 in the last quarter. Peoples Bank KS acquired a new position in shares of Huntington Bancshares in the third quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares in the third quarter worth $31,000. Fortitude Family Office LLC acquired a new stake in Huntington Bancshares during the third quarter worth $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 own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HBAN. Piper Sandler reduced their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Stephens restated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Down 1.4 %

Shares of HBAN opened at $16.86 on Thursday. The business’s fifty day moving average price is $17.02 and its two-hundred day moving average price is $15.55. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.44. 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 (NASDAQ:HBAN) last posted 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 return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the business earned $0.27 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.68%. 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.