Ferguson Wellman Capital Management Inc. Invests $368,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Posted by Defense World Staff on Mar 23rd, 2023

Ferguson Wellman Capital Management Inc. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,070 shares of the bank’s stock, valued at approximately $368,000.

Several other large investors also recently made changes to their positions in HBAN. CI Investments Inc. grew its holdings in shares of Huntington Bancshares by 994.3% during the third quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock worth $25,000 after purchasing an additional 1,730 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Huntington Bancshares by 91.9% during the third quarter. Allworth Financial LP now owns 1,998 shares of the bank’s stock worth $26,000 after purchasing an additional 957 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Huntington Bancshares by 149.8% during the third quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock worth $34,000 after purchasing an additional 1,543 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Huntington Bancshares during the second quarter valued at $36,000. Finally, Horan Securities Inc. lifted its stake in shares of Huntington Bancshares by 111.3% during the third quarter. Horan Securities Inc. now owns 3,087 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,626 shares during the period. Institutional investors own 80.43% of the company’s stock.

Huntington Bancshares Trading Down 5.2 %

NASDAQ HBAN opened at $10.66 on Thursday. The firm has a market cap of $15.45 billion, a P/E ratio of 7.35, a P/E/G ratio of 5.19 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50-day moving average is $14.37 and its 200-day moving average is $14.31. Huntington Bancshares Incorporated has a one year low of $9.94 and a one year high of $15.74.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 20th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date is Friday, March 17th. Huntington Bancshares’s dividend payout ratio is currently 42.76%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HBAN. StockNews.com began coverage on Huntington Bancshares in a research note on Thursday, March 16th. They set a “hold” rating on the stock. DA Davidson began coverage on Huntington Bancshares in a research note on Tuesday, December 20th. They set a “neutral” rating and a $15.00 price target on the stock. They noted that the move was a valuation call. Royal Bank of Canada cut their price target on Huntington Bancshares from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 14th. Piper Sandler cut their price target on Huntington Bancshares from $15.00 to $14.50 in a research note on Friday, March 10th. Finally, Morgan Stanley cut their price target on Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.47.

Insider Transactions at Huntington Bancshares

In other news, Director David L. Porteous sold 80,000 shares of the firm’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the sale, the director now owns 62,845 shares of the company’s stock, valued at $943,303.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Profile

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.