Summit Securities Group LLC Takes $703,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Summit Securities Group LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 43,200 shares of the bank’s stock, valued at approximately $703,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $302,826,000. Raymond James Financial Inc. bought a new stake in Huntington Bancshares during the fourth quarter valued at $150,444,000. State Street Corp raised its holdings in shares of Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the period. Amundi lifted its position in shares of Huntington Bancshares by 26.7% in the 4th quarter. Amundi now owns 17,435,207 shares of the bank’s stock worth $286,460,000 after buying an additional 3,671,235 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after buying an additional 3,410,597 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 2.2 %

Shares of NASDAQ:HBAN opened at $14.79 on Friday. The firm has a 50 day simple moving average of $16.07 and a 200 day simple moving average of $16.14. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.45. 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 has a market cap of $21.60 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping 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 firm earned $0.27 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.155 dividend. 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 4.19%. Huntington Bancshares’s payout ratio is 50.41%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Friday, March 7th. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Citigroup reduced their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.18.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock valued at $1,631,151 in the last quarter. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.