Confluence Wealth Services Inc. Increases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Confluence Wealth Services Inc. raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,890 shares of the bank’s stock after purchasing an additional 1,842 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Huntington Bancshares were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Asset Dedication LLC raised its stake in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after acquiring an additional 1,023 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $31,000. Fortitude Family Office LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter valued at approximately $32,000. Finally, Crews Bank & Trust bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $58,000. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.92 on Thursday. The firm has a market cap of $24.58 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. The business has a 50-day simple moving average of $16.88 and a two-hundred day simple moving average of $15.79. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two 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 released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping 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 company posted $0.27 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analyst Ratings Changes

HBAN has been the subject of a number of research reports. Keefe, Bruyette & Woods increased 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. Barclays lifted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Evercore ISI upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. 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 report on Tuesday, January 21st. Finally, DA Davidson upped 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. One research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $18.06.

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.