Spartan Wealth Advisory Services LLC Invests $626,000 in Huntington Bancshares Incorporated $HBAN

Spartan Wealth Advisory Services LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, Holdings Channel.com reports. The institutional investor bought 40,014 shares of the bank’s stock, valued at approximately $626,000.

A number of other large investors have also recently bought and sold shares of HBAN. Sagespring Wealth Partners LLC raised its position in Huntington Bancshares by 2.4% during the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after buying an additional 587 shares during the last quarter. Values First Advisors Inc. lifted its stake in Huntington Bancshares by 3.0% during the 1st quarter. Values First Advisors Inc. now owns 20,564 shares of the bank’s stock valued at $322,000 after acquiring an additional 604 shares during the period. MCF Advisors LLC boosted its holdings in shares of Huntington Bancshares by 12.6% in the 4th quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock valued at $95,000 after acquiring an additional 609 shares during the last quarter. Balboa Wealth Partners boosted its holdings in shares of Huntington Bancshares by 2.5% in the 1st quarter. Balboa Wealth Partners now owns 27,042 shares of the bank’s stock valued at $423,000 after acquiring an additional 662 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in shares of Huntington Bancshares by 4.3% in the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after acquiring an additional 694 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $18.25 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The company has a 50 day moving average price of $16.90 and a 200-day moving average price of $16.92. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The firm has a market cap of $37.00 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93.

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

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HBAN. Jefferies Financial Group cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.00 to $19.00 in a report on Monday, July 6th. Wolfe Research lowered their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. Evercore reiterated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, July 6th. Finally, Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 267,859 shares of the company’s stock, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Huntington Bancshares stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought 33,500 shares of company stock valued at $617,542 over the last 90 days. Company insiders own 0.67% of the company’s stock.

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.