Arvest Investments Inc. Has $2.02 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Arvest Investments Inc. decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,941 shares of the bank’s stock after selling 9,039 shares during the quarter. Arvest Investments Inc.’s holdings in Huntington Bancshares were worth $2,017,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Huntington Bancshares by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after acquiring an additional 2,218,020 shares during the last quarter. Geode Capital Management LLC lifted its stake in Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after acquiring an additional 473,893 shares during the last quarter. FMR LLC lifted its stake in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after acquiring an additional 1,506,606 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Truist Financial increased their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Morgan Stanley cut their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Insider Activity

In related news, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. This represents a 13.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This represents a 10.28 % 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 Price Performance

Shares of NASDAQ:HBAN opened at $14.97 on Thursday. The firm has a 50 day moving average of $16.28 and a 200-day moving average of $16.12. The stock has a market capitalization of $21.87 billion, a PE ratio of 12.17, a PEG ratio of 1.33 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 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 in the previous year, the firm posted $0.27 earnings per share. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s payout ratio is presently 50.41%.

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.