Wesbanco Bank Inc. Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wesbanco Bank Inc. boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,029 shares of the bank’s stock after purchasing an additional 7,855 shares during the quarter. Wesbanco Bank Inc.’s holdings in Huntington Bancshares were worth $2,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Asset Dedication LLC lifted its position in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares in the third quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares during the third quarter valued at approximately $31,000. Fortitude Family Office LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $32,000. Finally, UMB Bank n.a. boosted its holdings in shares of Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after purchasing an additional 728 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were 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 $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $152,393.72. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 0.2 %

Huntington Bancshares stock opened at $16.90 on Friday. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.44. The business has a fifty day moving average price of $17.01 and a 200-day moving average price of $15.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market capitalization of $24.55 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.43 and a beta of 1.07.

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 period last year, the business posted $0.27 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.37 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

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 yield of 3.67%. Huntington Bancshares’s payout ratio is 50.41%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent analyst reports. Truist Financial lifted their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. 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 report on Wednesday, December 4th. Piper Sandler cut their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday. Finally, Evercore ISI upped their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.