Geneos Wealth Management Inc. Raises Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Geneos Wealth Management Inc. grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 297,134 shares of the bank’s stock after purchasing an additional 10,191 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Huntington Bancshares were worth $4,834,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HBAN. Arvest Bank Trust Division acquired a new position in shares of Huntington Bancshares in the third quarter worth $2,381,000. Heritage Wealth Management Inc. acquired a new position in Huntington Bancshares during the 2nd quarter worth approximately $744,000. Donoghue Forlines LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Huntington Bancshares by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth $3,454,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 1.8 %

Shares of Huntington Bancshares stock opened at $17.20 on Friday. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44. The company’s 50-day simple moving average is $17.00 and its 200-day simple moving average is $15.61. 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 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 quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid 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 3.60%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, 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 approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on HBAN shares. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. DA Davidson boosted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.