EverSource Wealth Advisors LLC Acquires 4,666 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

EverSource Wealth Advisors LLC boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 97.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,456 shares of the bank’s stock after acquiring an additional 4,666 shares during the period. EverSource Wealth Advisors LLC’s holdings in Huntington Bancshares were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Creative Capital Management Investments LLC boosted its stake in shares of Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after buying an additional 1,023 shares during the period. Midwest Capital Advisors LLC bought a new stake in Huntington Bancshares during the 4th quarter valued at approximately $37,000. Asset Dedication LLC boosted its position in Huntington Bancshares by 70.0% during the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after acquiring an additional 702 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This represents a 10.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction 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 transaction, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HBAN shares. Morgan Stanley dropped their price target on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Piper Sandler lowered their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Finally, Stephens reiterated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.35.

Huntington Bancshares Stock Up 1.0 %

Shares of Huntington Bancshares stock opened at $14.90 on Tuesday. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $16.34 and its 200 day moving average is $16.13. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating 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 quarter in the previous year, the business posted $0.27 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.16%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

About Huntington Bancshares

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.