Huntington Bancshares Incorporated (NASDAQ:HBAN) is West Michigan Advisors LLC’s 10th Largest Position

West Michigan Advisors LLC cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 351,844 shares of the bank’s stock after selling 8,527 shares during the quarter. Huntington Bancshares accounts for 1.7% of West Michigan Advisors LLC’s portfolio, making the stock its 10th largest position. West Michigan Advisors LLC’s holdings in Huntington Bancshares were worth $5,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after buying an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after purchasing an additional 1,522,767 shares during the period. Geode Capital Management LLC increased its holdings in shares of Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after purchasing an additional 473,893 shares during the period. FMR LLC increased its holdings in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 1.6 %

Shares of HBAN stock opened at $16.47 on Friday. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. 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 business’s 50 day moving average is $16.65 and its two-hundred day moving average is $16.04. The company has a market cap of $23.94 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data 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 period in the previous year, the business earned $0.27 earnings per share. Equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.76%. Huntington Bancshares’s dividend payout ratio is 50.41%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Truist Financial upped their target price on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Barclays upped their target price on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares 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.