HB Wealth Management LLC Raises Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

HB Wealth Management LLC raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) by 18.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,154 shares of the bank’s stock after purchasing an additional 4,198 shares during the quarter. HB Wealth Management LLC’s holdings in Huntington Bancshares were worth $379,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HBAN. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the first quarter worth $29,000. Nemes Rush Group LLC boosted its stake in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares during the first quarter valued at $30,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Huntington Bancshares during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

HBAN traded down $0.20 during trading on Friday, hitting $12.84. 7,298,449 shares of the stock were exchanged, compared to its average volume of 16,918,584. The firm has a market capitalization of $18.61 billion, a P/E ratio of 11.75, a PEG ratio of 2.48 and a beta of 1.06. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $14.30. The stock has a fifty day moving average price of $13.38 and a two-hundred day moving average price of $13.16. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last released its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a $0.155 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.83%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Activity at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 15,711 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the sale, the insider now owns 65,195 shares in the company, valued at $902,298.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,948 shares of Huntington Bancshares stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total transaction of $214,819.56. Following the sale, the insider now owns 21,102 shares of the company’s stock, valued at approximately $284,243.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the sale, the insider now directly owns 65,195 shares in the company, valued at approximately $902,298.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,829 shares of company stock worth $2,148,623. 0.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HBAN shares. Piper Sandler lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $13.50 to $11.50 in a research note on Friday, June 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. UBS Group lowered their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Finally, StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $14.97.

Get Our Latest Stock Report on Huntington Bancshares

Huntington Bancshares Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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