HB Wealth Management LLC Purchases 4,198 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

HB Wealth Management LLC boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 18.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,154 shares of the bank’s stock after buying an additional 4,198 shares during the period. HB Wealth Management LLC’s holdings in Huntington Bancshares were worth $379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares in the first quarter valued at about $29,000. YHB Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares in the first quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. bought a new stake in Huntington Bancshares in the fourth quarter valued at approximately $29,000. Nemes Rush Group LLC boosted its holdings in shares of Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

NASDAQ:HBAN traded down $0.20 on Friday, hitting $12.84. The stock had a trading volume of 7,298,449 shares, compared to its average volume of 16,918,584. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The business’s 50-day simple moving average is $13.38 and its two-hundred day simple moving average is $13.16. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company earned $0.38 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Monday, June 17th. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following 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 filing with the Securities & Exchange Commission, which is available at this link. In other Huntington Bancshares news, 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 transaction, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Helga Houston sold 7,278 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the transaction, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,829 shares of company stock worth $2,148,623. 0.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of analyst reports. Stephens reissued an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. UBS Group cut their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Morgan Stanley dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.97.

Huntington Bancshares Company Profile

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.