Valmark Advisers Inc. Acquires 3,005 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Valmark Advisers Inc. increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,658 shares of the bank’s stock after acquiring an additional 3,005 shares during the quarter. Valmark Advisers Inc.’s holdings in Huntington Bancshares were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in HBAN. Arvest Bank Trust Division bought a new stake in Huntington Bancshares during the 3rd quarter valued at about $2,381,000. Mediolanum International Funds Ltd bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $422,000. Donoghue Forlines LLC bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares in the last quarter. Finally, Petiole USA ltd bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth $3,454,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 0.7 %

Shares of HBAN opened at $16.73 on Tuesday. The stock has a market capitalization of $24.31 billion, a PE ratio of 13.60, a P/E/G ratio of 1.41 and a beta of 1.07. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year 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. The company’s 50-day simple moving average is $16.74 and its 200-day simple moving average is $15.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data 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 company earned $0.27 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.71%. Huntington Bancshares’s payout ratio is currently 50.41%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Piper Sandler decreased their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Barclays raised their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup lifted their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating 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’s stock. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.06.

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.