HB Wealth Management LLC Has $1.59 Million Holdings in Huntington Bancshares Incorporated $HBAN

HB Wealth Management LLC increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 53.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,724 shares of the bank’s stock after acquiring an additional 35,352 shares during the period. HB Wealth Management LLC’s holdings in Huntington Bancshares were worth $1,592,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HBAN. MV Capital Management Inc. bought a new position in Huntington Bancshares during the 4th quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. boosted its position in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares during the period. Centennial Bank AR bought a new position in shares of Huntington Bancshares during the fourth quarter worth about $28,000. Finally, DV Equities LLC acquired a new stake in Huntington Bancshares in the 4th quarter valued at approximately $38,000. 80.72% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

HBAN has been the topic of several research reports. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. The Goldman Sachs Group cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Morgan Stanley raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.25.

Huntington Bancshares Trading Up 0.7%

NASDAQ HBAN opened at $18.01 on Wednesday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average of $16.65 and a 200-day moving average of $16.90. The company has a market cap of $36.51 billion, a PE ratio of 13.85, a PEG ratio of 0.81 and a beta of 0.93.

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

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

About Huntington Bancshares

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.