Balboa Wealth Partners Sells 806 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Balboa Wealth Partners decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,369 shares of the bank’s stock after selling 806 shares during the period. Balboa Wealth Partners’ holdings in Huntington Bancshares were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Nemes Rush Group LLC increased its position in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,391 shares during the last quarter. Assetmark Inc. increased its position in Huntington Bancshares by 8.0% during the fourth quarter. Assetmark Inc. now owns 90,882 shares of the bank’s stock valued at $1,156,000 after acquiring an additional 6,749 shares during the last quarter. Quest Partners LLC bought a new position in Huntington Bancshares during the fourth quarter valued at $1,623,000. Corient Private Wealth LLC grew its holdings in shares of Huntington Bancshares by 10.6% in the fourth quarter. Corient Private Wealth LLC now owns 627,153 shares of the bank’s stock worth $7,977,000 after purchasing an additional 60,349 shares during the last quarter. Finally, Balentine LLC bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $132,000. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Stephens reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Evercore ISI upped their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada upped their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.17.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders sold 208,551 shares of company stock valued at $2,834,671 in the last three months. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Down 1.1 %

Shares of HBAN stock traded down $0.15 during mid-day trading on Thursday, hitting $13.77. 4,208,567 shares of the stock traded hands, compared to its average volume of 16,348,106. The stock has a market cap of $19.96 billion, a P/E ratio of 12.54, a P/E/G ratio of 2.62 and a beta of 1.09. The stock’s fifty day moving average is $13.64 and its two-hundred day moving average is $12.78. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $14.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period last year, the firm posted $0.38 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

About Huntington Bancshares

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.