Elevation Point Wealth Partners LLC Raises Stake in Huntington Bancshares Incorporated $HBAN

Elevation Point Wealth Partners LLC lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 360.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 68,926 shares of the bank’s stock after buying an additional 53,962 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Huntington Bancshares were worth $1,082,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in HBAN. MV Capital Management Inc. purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new position in Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. raised its position in Huntington Bancshares by 116.3% during the 3rd 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 last quarter. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares in the 4th quarter worth $28,000. Finally, DV Equities LLC purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 0.2%

Shares of NASDAQ:HBAN opened at $17.89 on Tuesday. The company has a market capitalization of $36.27 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.81 and a beta of 0.93. The stock’s fifty day simple moving average is $16.62 and its 200-day simple moving average is $16.90. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

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

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insider Transactions at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares of the company’s stock, valued at $4,821,462. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders acquired 33,500 shares of company stock worth $617,542. 0.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research report on Monday. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a report on Thursday, April 23rd. Barclays cut shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Stephens began coverage on Huntington Bancshares in a research note on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average target price of $20.20.

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.