Sunpointe LLC Reduces Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Sunpointe LLC lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,949 shares of the bank’s stock after selling 1,110 shares during the quarter. Sunpointe LLC’s holdings in Huntington Bancshares were worth $196,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC increased its holdings in Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after buying an additional 702 shares during the last quarter. Lantz Financial LLC increased its holdings in Huntington Bancshares by 6.1% in the fourth quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock valued at $224,000 after buying an additional 790 shares during the last quarter. Dillon & Associates Inc. increased its holdings in Huntington Bancshares by 5.9% in the third quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock valued at $215,000 after buying an additional 795 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in Huntington Bancshares by 7.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock valued at $191,000 after buying an additional 795 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in Huntington Bancshares by 1.3% in the third quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock valued at $917,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.42 on Friday. 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 has a market cap of $23.87 billion, a P/E ratio of 13.35, a PEG ratio of 1.37 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 has a 50-day moving average price of $16.70 and a 200 day moving average price of $15.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS 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 period in the prior year, the company earned $0.27 earnings per share. Research analysts predict that Huntington Bancshares Incorporated will post 1.39 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 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 3.78%. Huntington Bancshares’s payout ratio is 50.41%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HBAN. Stephens reaffirmed an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. Piper Sandler dropped their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Barclays raised their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Truist Financial raised their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Evercore ISI raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

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.