Aspen Investment Management Inc Has $1.58 Million Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Aspen Investment Management Inc trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 96,995 shares of the bank’s stock after selling 12,955 shares during the period. Aspen Investment Management Inc’s holdings in Huntington Bancshares were worth $1,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Capital Management Investments LLC raised its holdings in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,578 shares during the period. Y.D. More Investments Ltd increased its stake in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares during the period. Fortitude Family Office LLC bought a new position in shares of Huntington Bancshares during the third quarter worth approximately $32,000. Asset Dedication LLC boosted its stake in Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,260 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after purchasing an additional 702 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $16.42 on Friday. 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 stock has a market cap of $23.87 billion, a PE ratio of 13.35, a P/E/G ratio of 1.37 and a beta of 1.07. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44. The business’s 50-day moving average price is $16.70 and its two-hundred day moving average price is $15.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (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 quarter last year, the firm posted $0.27 EPS. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.78%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analysts Set New Price Targets

Several research firms have weighed in on HBAN. Piper Sandler lowered their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI boosted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Truist Financial lifted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.06.

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.