GHP Investment Advisors Inc. Purchases 12,783 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

GHP Investment Advisors Inc. lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,310 shares of the bank’s stock after purchasing an additional 12,783 shares during the period. GHP Investment Advisors Inc.’s holdings in Huntington Bancshares were worth $2,736,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $48,000. Curat Global LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter worth $52,000. Venturi Wealth Management LLC raised its stake in shares of Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $70,000. Finally, IFP Advisors Inc raised its stake in shares of Huntington Bancshares by 120.6% during the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank’s stock worth $73,000 after purchasing an additional 2,462 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 59,060 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the transaction, the chief financial officer now directly owns 277,348 shares of the company’s stock, valued at approximately $3,982,717.28. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kendall A. Kowalski sold 25,419 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total transaction of $347,731.92. Following the transaction, the insider now directly owns 70,281 shares of the company’s stock, valued at approximately $961,444.08. This trade represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,096 shares of company stock worth $3,060,286 over the last three months. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Raymond James Financial reissued a “strong-buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 target price on the stock in a report on Thursday, April 24th. Finally, Truist Financial boosted their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.08.

Huntington Bancshares Stock Up 1.2%

Shares of NASDAQ:HBAN opened at $16.26 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The firm has a fifty day moving average of $15.33 and a 200 day moving average of $15.67. The firm has a market capitalization of $23.75 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its board has initiated a share buyback program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.81%. Huntington Bancshares’s payout ratio is 47.33%.

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.