Bellwether Advisors LLC Buys New Shares in Huntington Bancshares Incorporated $HBAN

Bellwether Advisors LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 231,117 shares of the bank’s stock, valued at approximately $3,617,000.

A number of other large investors also recently bought and sold shares of the stock. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth $26,000. Centennial Bank AR purchased a new position in shares of Huntington Bancshares in the 4th quarter worth $28,000. Johnson Financial Group Inc. boosted its holdings in Huntington Bancshares by 48.8% in the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock valued at $34,000 after acquiring an additional 707 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Huntington Bancshares by 80.7% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock valued at $35,000 after acquiring an additional 994 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on HBAN. Evercore restated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, July 6th. UBS Group lifted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada boosted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Morgan Stanley increased their target price 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. Finally, The Goldman Sachs Group cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Huntington Bancshares Stock Up 0.6%

HBAN stock opened at $18.17 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The firm has a 50 day simple moving average of $16.99 and a 200-day simple moving average of $16.93. The company has a market capitalization of $36.83 billion, a P/E ratio of 13.98, a PEG ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.57 billion. During the same period in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is 47.69%.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares of the company’s stock, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company’s stock.

About Huntington Bancshares

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.