Citizens Financial Group Inc. RI Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Citizens Financial Group Inc. RI bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, HoldingsChannel reports. The firm bought 34,342 shares of the bank’s stock, valued at approximately $559,000.

Several other large investors also recently modified their holdings of HBAN. Venturi Wealth Management LLC lifted its holdings in Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares during the period. Lantz Financial LLC lifted its stake in Huntington Bancshares by 6.1% in the fourth quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock worth $224,000 after acquiring an additional 790 shares during the period. McGlone Suttner Wealth Management Inc. lifted its stake in Huntington Bancshares by 7.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock worth $191,000 after acquiring an additional 795 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Huntington Bancshares by 1.3% in the third quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock valued at $917,000 after acquiring an additional 800 shares in the last quarter. Finally, Strategic Blueprint LLC increased its position in Huntington Bancshares by 2.8% during the 4th quarter. Strategic Blueprint LLC now owns 29,140 shares of the bank’s stock valued at $474,000 after purchasing an additional 804 shares during the period. 80.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HBAN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Stephens restated an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Barclays raised their target price on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group upped their price target on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.35.

Huntington Bancshares Price Performance

Shares of HBAN opened at $14.28 on Friday. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The company has a market capitalization of $20.76 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The firm has a 50 day moving average of $16.45 and a 200 day moving average of $16.12. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 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. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

About Huntington Bancshares

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.