Insigneo Advisory Services LLC Sells 2,249 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Insigneo Advisory Services LLC decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,425 shares of the bank’s stock after selling 2,249 shares during the period. Insigneo Advisory Services LLC’s holdings in Huntington Bancshares were worth $178,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HBAN. Lazard Asset Management LLC grew its stake in Huntington Bancshares by 251,152.2% in the 1st quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock valued at $2,417,000 after buying an additional 173,295 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Huntington Bancshares by 53.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after purchasing an additional 564,729 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Huntington Bancshares by 8.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock worth $1,911,000 after purchasing an additional 10,795 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares during the period. Finally, KBC Group NV grew its holdings in Huntington Bancshares by 715.0% in the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after buying an additional 3,729,974 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $14.64 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.24. The business has a 50 day moving average of $14.39 and a 200-day moving average of $13.77. The company has a market capitalization of $21.22 billion, a P/E ratio of 13.19, a P/E/G ratio of 3.07 and a beta of 1.05.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business earned $0.35 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock worth $1,762,904 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Evercore ISI decreased their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Piper Sandler raised their target price on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday, July 22nd. Citigroup boosted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.59.

About Huntington Bancshares

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.