Wrapmanager Inc. Sells 3,609 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wrapmanager Inc. lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 22.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,388 shares of the bank’s stock after selling 3,609 shares during the quarter. Wrapmanager Inc.’s holdings in Huntington Bancshares were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Huntington Bancshares by 11.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,732 shares of the bank’s stock worth $1,143,000 after buying an additional 7,976 shares during the last quarter. Dakota Wealth Management boosted its stake in Huntington Bancshares by 7.4% in the third quarter. Dakota Wealth Management now owns 15,225 shares of the bank’s stock valued at $224,000 after acquiring an additional 1,045 shares in the last quarter. Ballentine Partners LLC grew its holdings in Huntington Bancshares by 17.2% in the third quarter. Ballentine Partners LLC now owns 18,848 shares of the bank’s stock worth $277,000 after purchasing an additional 2,771 shares during the last quarter. Forsta AP Fonden increased its position in shares of Huntington Bancshares by 9.9% during the third quarter. Forsta AP Fonden now owns 335,500 shares of the bank’s stock worth $4,932,000 after purchasing an additional 30,300 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $164,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HBAN. Keefe, Bruyette & Woods boosted their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Piper Sandler lowered 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. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued 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 price target of $18.06.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $15.81 on Wednesday. The stock has a market cap of $22.98 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.33 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 business has a 50-day simple moving average of $16.64 and a 200-day simple moving average of $16.02. 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 (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 analysts’ consensus estimates 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 prior year, the firm earned $0.27 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.92%. Huntington Bancshares’s dividend payout ratio is presently 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.