Verdence Capital Advisors LLC Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Verdence Capital Advisors LLC lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,839 shares of the bank’s stock after selling 9,696 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Huntington Bancshares were worth $1,120,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HBAN. Farther Finance Advisors LLC increased its holdings in Huntington Bancshares by 19.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 11,618 shares of the bank’s stock valued at $171,000 after acquiring an additional 1,883 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Huntington Bancshares during the 3rd quarter valued at about $180,000. Robeco Institutional Asset Management B.V. increased its holdings in Huntington Bancshares by 40.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after acquiring an additional 55,865 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Huntington Bancshares during the 3rd quarter valued at about $77,000. Finally, Centennial Wealth Advisory LLC increased its holdings in Huntington Bancshares by 3.9% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 40,267 shares of the bank’s stock valued at $592,000 after acquiring an additional 1,505 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens restated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Piper Sandler decreased their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Huntington Bancshares Trading Down 0.8 %

Shares of HBAN stock opened at $15.38 on Thursday. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. 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 fifty-two week low of $12.05 and a fifty-two week high of $18.44. The firm’s 50 day moving average price is $16.63 and its two-hundred day moving average price is $16.10.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the business earned $0.27 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.03%. Huntington Bancshares’s dividend payout ratio (DPR) is 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.