ICA Group Wealth Management LLC Lowers Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

ICA Group Wealth Management LLC decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,317 shares of the bank’s stock after selling 1,345 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Huntington Bancshares were worth $216,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $216,049,000. Federated Hermes Inc. boosted its position in Huntington Bancshares by 28.8% during the first quarter. Federated Hermes Inc. now owns 29,195,530 shares of the bank’s stock worth $326,990,000 after purchasing an additional 6,523,848 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Huntington Bancshares by 5.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,907,624 shares of the bank’s stock worth $1,070,297,000 after purchasing an additional 3,618,731 shares in the last quarter. Two Sigma Investments LP purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $44,205,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Huntington Bancshares by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 45,267,633 shares of the bank’s stock worth $628,325,000 after purchasing an additional 2,912,638 shares in the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paul G. Heller sold 23,817 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $11.89, for a total transaction of $283,184.13. Following the completion of the transaction, the executive vice president now directly owns 505,910 shares in the company, valued at $6,015,269.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Helga Houston sold 12,280 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total transaction of $146,991.60. Following the completion of the transaction, the insider now directly owns 594,564 shares in the company, valued at $7,116,931.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Paul G. Heller sold 23,817 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $11.89, for a total value of $283,184.13. Following the transaction, the executive vice president now owns 505,910 shares of the company’s stock, valued at $6,015,269.90. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HBAN. Stephens increased their price target on Huntington Bancshares from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. DA Davidson increased their target price on Huntington Bancshares from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Royal Bank of Canada reissued an “outperform” rating and set a $14.00 target price on shares of Huntington Bancshares in a report on Monday, July 24th. Barclays reduced their target price on Huntington Bancshares from $14.00 to $13.00 in a report on Tuesday, June 27th. Finally, StockNews.com began coverage on Huntington Bancshares in a report on Thursday, August 17th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Hold” and an average target price of $13.31.

Huntington Bancshares Price Performance

HBAN stock opened at $10.87 on Monday. The business has a fifty day moving average of $11.43 and a two-hundred day moving average of $11.33. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. The stock has a market cap of $15.74 billion, a price-to-earnings ratio of 7.01, a price-to-earnings-growth ratio of 5.93 and a beta of 1.08. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $15.74.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Huntington Bancshares had a return on equity of 15.20% and a net margin of 24.74%. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.38 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, September 15th. This represents a $0.62 annualized dividend and a yield of 5.70%. Huntington Bancshares’s dividend payout ratio (DPR) is 40.00%.

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