Ascentis Independent Advisors Raises Stake in Huntington Bancshares Incorporated $HBAN

Ascentis Independent Advisors boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 130.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 50,304 shares of the bank’s stock after purchasing an additional 28,456 shares during the period. Ascentis Independent Advisors’ holdings in Huntington Bancshares were worth $787,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in HBAN. CIBC Asset Management Inc raised its position in shares of Huntington Bancshares by 24.5% in the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after purchasing an additional 104,965 shares during the period. KBC Group NV boosted its holdings in Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after buying an additional 395,489 shares during the period. Creative Financial Designs Inc. ADV grew its stake in Huntington Bancshares by 688.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock valued at $1,500,000 after buying an additional 75,516 shares in the last quarter. Hsbc Holdings PLC grew its stake in Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after buying an additional 1,652,464 shares in the last quarter. Finally, SageView Advisory Group LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at $2,163,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HBAN. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Royal Bank Of Canada raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wolfe Research cut their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $18.01 on Wednesday. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The business has a 50-day simple moving average of $16.65 and a 200 day simple moving average of $16.90. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a market cap of $36.51 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter last year, the firm posted $0.34 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.4%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought a total of 33,500 shares of company stock valued at $617,542 over the last ninety days. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.