FCG Investment Co Grows Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

FCG Investment Co lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,746 shares of the bank’s stock after buying an additional 6,729 shares during the quarter. Huntington Bancshares makes up 1.0% of FCG Investment Co’s holdings, making the stock its 29th largest position. FCG Investment Co’s holdings in Huntington Bancshares were worth $1,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UMB Bank n.a. raised its position in shares of Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the period. Dillon & Associates Inc. raised its holdings in Huntington Bancshares by 5.9% in the 3rd quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock worth $215,000 after purchasing an additional 795 shares during the period. Integrated Wealth Concepts LLC boosted its position in Huntington Bancshares by 1.3% during the third quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock worth $917,000 after purchasing an additional 800 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Huntington Bancshares by 5.0% in the third quarter. Lake Street Advisors Group LLC now owns 17,783 shares of the bank’s stock valued at $264,000 after purchasing an additional 846 shares during the period. Finally, Metis Global Partners LLC increased its position in shares of Huntington Bancshares by 1.1% in the third quarter. Metis Global Partners LLC now owns 79,427 shares of the bank’s stock valued at $1,168,000 after buying an additional 885 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, 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. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

HBAN stock opened at $16.90 on Friday. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44. The business has a fifty day moving average of $17.01 and a two-hundred day moving average of $15.56. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.43 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 (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the company posted $0.27 EPS. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.67%. Huntington Bancshares’s payout ratio is currently 50.41%.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.06.

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.