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

HB Wealth Management LLC raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 53.3% during the 1st quarter, Holdings Channel reports. The fund 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 filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of HBAN. Wellington Management Group LLP boosted its holdings in shares of Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after acquiring an additional 68,478,435 shares during the period. Norges Bank bought a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $432,584,000. Vanguard Group Inc. lifted its holdings in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. Junto Capital Management LP bought a new stake in Huntington Bancshares in the 3rd quarter valued at $85,690,000. Finally, Marshall Wace LLP grew its holdings in Huntington Bancshares by 2,458.7% in the 4th quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank’s stock valued at $78,354,000 after buying an additional 4,339,571 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $18.01 on Wednesday. The company 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 Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a fifty day moving average price of $16.65 and a 200-day moving average price of $16.90.

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

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a $0.155 dividend. 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 payout ratio is presently 47.69%.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 33,500 shares of company stock valued at $617,542 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HBAN. Weiss Ratings raised Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Stephens started coverage on shares of Huntington Bancshares in a research note on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price target on the stock. Morgan Stanley raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. boosted their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a report on Monday. Finally, The Goldman Sachs Group cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

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.