Envestnet Asset Management Inc. Buys 98,108 Shares of Huntington Bancshares Incorporated $HBAN

Envestnet Asset Management Inc. boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,747,463 shares of the bank’s stock after acquiring an additional 98,108 shares during the period. Envestnet Asset Management Inc.’s holdings in Huntington Bancshares were worth $79,567,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HBAN. Nisa Investment Advisors LLC lifted its stake in Huntington Bancshares by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 393,945 shares of the bank’s stock valued at $6,663,000 after buying an additional 37,542 shares during the period. Wealthfront Advisers LLC lifted its stake in Huntington Bancshares by 12.6% in the second quarter. Wealthfront Advisers LLC now owns 625,920 shares of the bank’s stock valued at $10,490,000 after buying an additional 69,991 shares during the period. New Hampshire Trust lifted its stake in Huntington Bancshares by 3.1% in the second quarter. New Hampshire Trust now owns 35,111 shares of the bank’s stock valued at $588,000 after buying an additional 1,059 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Huntington Bancshares by 11.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,478 shares of the bank’s stock valued at $209,000 after buying an additional 1,238 shares during the period. Finally, Brighton Jones LLC lifted its stake in Huntington Bancshares by 41.9% in the second quarter. Brighton Jones LLC now owns 17,161 shares of the bank’s stock valued at $288,000 after buying an additional 5,069 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction on 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 owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research note on Friday, October 10th. Cowen reissued a “buy” rating on shares of Huntington Bancshares in a research note on Monday, October 20th. Truist Financial boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Stephens boosted their price target on Huntington Bancshares from $18.00 to $19.00 in a research note on Friday, October 17th. Finally, Jefferies Financial Group boosted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $19.82.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.32 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. The stock’s 50 day moving average is $16.92 and its 200-day moving average is $16.27. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 0.66 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The company had revenue of $469.00 million for the quarter. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Thursday, December 18th. This represents a $0.62 annualized dividend and a yield of 4.0%. Huntington Bancshares’s dividend payout ratio is 43.36%.

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.