HB Wealth Management LLC Cuts Stock Holdings in Huntington Bancshares Incorporated $HBAN

HB Wealth Management LLC lowered its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,231 shares of the bank’s stock after selling 2,517 shares during the period. HB Wealth Management LLC’s holdings in Huntington Bancshares were worth $1,294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in Huntington Bancshares by 1,462.4% in the first quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank’s stock worth $3,188,000 after purchasing an additional 198,796 shares during the last quarter. Czech National Bank lifted its position in shares of Huntington Bancshares by 6.6% during the 2nd quarter. Czech National Bank now owns 356,096 shares of the bank’s stock valued at $5,968,000 after buying an additional 22,190 shares during the last quarter. Trinity Financial Advisors LLC lifted its position in shares of Huntington Bancshares by 1,497.1% during the 2nd quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank’s stock valued at $4,853,000 after buying an additional 268,933 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Huntington Bancshares by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank’s stock valued at $388,000 after buying an additional 2,751 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Huntington Bancshares by 13.5% during the 1st quarter. Brown Advisory Inc. now owns 36,467 shares of the bank’s stock valued at $547,000 after buying an additional 4,347 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Jefferies Financial Group upped their target price on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Morgan Stanley upped their target price on Huntington Bancshares from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wolfe Research upgraded Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Thursday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.24.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares in the company, valued at $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

HBAN opened at $17.04 on Friday. The stock has a 50-day moving average price of $17.11 and a 200-day moving average price of $16.00. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $24.86 billion, a P/E ratio of 12.62, a PEG ratio of 0.82 and a beta of 0.96.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th were issued a dividend of $0.155 per share. The ex-dividend date was Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio is currently 45.93%.

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.