Fortress Financial Solutions LLC Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fortress Financial Solutions LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,895 shares of the bank’s stock, valued at approximately $291,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Huntington Bancshares by 668.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,600 shares of the bank’s stock valued at $215,000 after buying an additional 12,700 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Huntington Bancshares in the 3rd quarter valued at about $1,041,000. CX Institutional boosted its position in shares of Huntington Bancshares by 13.4% during the 3rd quarter. CX Institutional now owns 17,748 shares of the bank’s stock valued at $261,000 after purchasing an additional 2,102 shares in the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $6,353,000. Finally, Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HBAN. 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. Evercore ISI lifted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. DA Davidson lifted their price target on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.86 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. The company’s fifty day moving average is $16.81 and its 200-day moving average is $15.84. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 quarter last year, the company earned $0.27 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.