PFG Investments LLC Purchases New Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

PFG Investments LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, Holdings Channel reports. The fund purchased 29,202 shares of the bank’s stock, valued at approximately $407,000.

Several other large investors have also recently bought and sold shares of the business. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares in the 4th quarter worth about $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares in the 1st quarter worth about $29,000. Nemes Rush Group LLC increased its position in Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares during the last quarter. Planned Solutions Inc. acquired a new position in Huntington Bancshares in the 4th quarter worth about $33,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of Huntington Bancshares during the 3rd quarter worth about $35,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and upped their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $16.00 target price on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,489 shares of company stock worth $2,286,999. 0.92% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded down $0.10 during midday trading on Tuesday, hitting $13.47. 15,679,438 shares of the company were exchanged, compared to its average volume of 17,599,072. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $19.51 billion, a P/E ratio of 12.14, a PEG ratio of 2.50 and a beta of 1.11. Huntington Bancshares Incorporated has a 52 week low of $9.13 and a 52 week high of $14.07. The firm has a 50 day simple moving average of $13.38 and a 200-day simple moving average of $12.31.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter last year, the company earned $0.38 EPS. Research analysts forecast that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 4.60%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

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.