Fortitude Family Office LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fortitude Family Office LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,186 shares of the bank’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HBAN. Asset Dedication LLC lifted its stake in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the period. Peoples Bank KS bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. Hazlett Burt & Watson Inc. increased its stake in shares of Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares in the last quarter. Finally, ORG Partners LLC increased its stake in shares of Huntington Bancshares by 354.9% in the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after acquiring an additional 2,594 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on HBAN. Argus lifted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $15.74 on Thursday. Huntington Bancshares Incorporated has a 1 year low of $9.49 and a 1 year high of $16.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 3.17 and a beta of 1.04. The company has a fifty day moving average price of $14.85 and a 200-day moving average price of $14.04.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business posted $0.36 EPS. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.2 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

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.