Beacon Investment Advisory Services Inc. Has $255,000 Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Beacon Investment Advisory Services Inc. trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,671 shares of the bank’s stock after selling 4,729 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Huntington Bancshares were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Arvest Bank Trust Division bought a new position in Huntington Bancshares during the third quarter valued at approximately $2,381,000. Heritage Wealth Management Inc. acquired a new position in shares of Huntington Bancshares during the 2nd quarter worth $744,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Huntington Bancshares by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares in the last quarter. Petiole USA ltd acquired a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $3,454,000. Finally, Franklin Resources Inc. boosted its holdings in Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after purchasing an additional 55,602 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HBAN. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday. DA Davidson raised their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Piper Sandler decreased their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Stock Up 0.2 %

HBAN stock opened at $16.90 on Friday. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market cap of $24.55 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The business’s 50-day simple moving average is $17.01 and its 200 day simple moving average is $15.56.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the firm posted $0.27 EPS. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.67%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares 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.