Commonwealth Equity Services LLC Grows Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Commonwealth Equity Services LLC raised its position in Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 473,815 shares of the bank’s stock after purchasing an additional 32,636 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Huntington Bancshares were worth $6,927,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Benjamin Edwards Inc. raised its holdings in shares of Huntington Bancshares by 106.1% during the 1st quarter. Benjamin Edwards Inc. now owns 10,892 shares of the bank’s stock valued at $159,000 after buying an additional 5,608 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Huntington Bancshares by 3.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,736,481 shares of the bank’s stock valued at $54,627,000 after buying an additional 122,689 shares during the period. Ausdal Financial Partners Inc. increased its holdings in Huntington Bancshares by 29.4% during the 1st quarter. Ausdal Financial Partners Inc. now owns 13,219 shares of the bank’s stock worth $193,000 after purchasing an additional 3,002 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in Huntington Bancshares by 14.0% during the 1st quarter. Waldron Private Wealth LLC now owns 18,140 shares of the bank’s stock worth $268,000 after purchasing an additional 2,226 shares during the last quarter. Finally, abrdn plc increased its holdings in Huntington Bancshares by 23.3% during the 1st quarter. abrdn plc now owns 15,891,839 shares of the bank’s stock worth $236,232,000 after purchasing an additional 3,002,310 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on HBAN. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, April 22nd. The Goldman Sachs Group dropped their price objective on Huntington Bancshares from $17.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Argus upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Thursday, July 28th. Keefe, Bruyette & Woods lowered Huntington Bancshares from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $17.00 to $15.00 in a research report on Thursday, June 2nd. Finally, Raymond James decreased their target price on Huntington Bancshares from $18.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Hold” and an average price target of $15.11.

Huntington Bancshares Trading Down 1.0 %

Shares of HBAN stock opened at $13.21 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.82. Huntington Bancshares Incorporated has a 1 year low of $11.67 and a 1 year high of $17.79. The stock has a fifty day moving average of $12.77 and a two-hundred day moving average of $14.01. The firm has a market capitalization of $19.01 billion, a PE ratio of 11.79 and a beta of 1.20.

Huntington Bancshares (NASDAQ:HBANGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same quarter last year, the firm posted $0.35 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.46 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, September 16th. This represents a $0.62 dividend on an annualized basis and a yield of 4.69%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.36%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 28,166 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $13.77, for a total value of $387,845.82. Following the sale, the insider now owns 496,474 shares of the company’s stock, valued at approximately $6,836,446.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gary Torgow acquired 19,382 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were bought at an average price of $12.90 per share, with a total value of $250,027.80. Following the purchase, the director now owns 893,301 shares of the company’s stock, valued at $11,523,582.90. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 28,166 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $13.77, for a total value of $387,845.82. Following the completion of the sale, the insider now directly owns 496,474 shares in the company, valued at approximately $6,836,446.98. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Huntington Bancshares Profile

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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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