Huntington Bancshares Incorporated $HBAN Shares Bought by Creative Financial Designs Inc. ADV

Key Points

• Creative Financial Designs Inc. ADV boosted its Huntington Bancshares stake by 688.9% in the fourth quarter, ending with 86,478 shares worth about $1.5 million.
• Huntington Bancshares reported strong quarterly results, with earnings of $0.37 per share beating estimates and revenue of $2.59 billion slightly above expectations.
• The bank also announced a quarterly dividend of $0.155 per share, implying an annualized yield of about 3.9%; analysts currently rate the stock a Moderate Buy with an average target price of $20.05.

Creative Financial Designs Inc. ADV raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 688.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,478 shares of the bank's stock after acquiring an additional 75,516 shares during the quarter. Creative Financial Designs Inc. ADV's holdings in Huntington Bancshares were worth $1,500,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Altrius Capital Management Inc acquired a new position in shares of Huntington Bancshares in the third quarter worth $4,894,000. Vanguard Group Inc. raised its holdings in shares of Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock worth $3,056,459,000 after acquiring an additional 680,601 shares during the last quarter. Midwest Trust Co raised its holdings in shares of Huntington Bancshares by 12.7% in the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank's stock worth $26,095,000 after acquiring an additional 170,240 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Huntington Bancshares by 3.5% in the third quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank's stock worth $159,543,000 after acquiring an additional 314,544 shares during the last quarter. Finally, Fieldview Capital Management LLC raised its holdings in shares of Huntington Bancshares by 15.9% in the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank's stock worth $8,270,000 after acquiring an additional 65,828 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several analyst reports. Truist Financial dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Jefferies Financial Group upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods dropped their target price on Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating for the company in a research note on Friday, January 23rd. UBS Group set a $21.00 target price on Huntington Bancshares in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. dropped their target price on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.05.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.82 on Thursday. The firm has a market capitalization of $32.07 billion, a P/E ratio of 12.17, a PEG ratio of 0.71 and a beta of 0.96. The stock has a fifty day moving average price of $15.97 and a 200 day moving average price of $16.74. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the prior year, the firm posted $0.34 earnings per share. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.9%. Huntington Bancshares's dividend payout ratio is currently 47.69%.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 65,530 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the sale, the vice president directly owned 481,676 shares in the company, valued at $7,360,009.28. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the sale, the insider owned 83,819 shares of the company's stock, valued at $1,299,194.50. This represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought 25,000 shares of company stock worth $503,822 over the last three months. 0.67% of the stock is owned by insiders.

Huntington Bancshares Profile

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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