Beam Wealth Advisors Inc. Invests $3.24 Million in Huntington Bancshares Incorporated $HBAN

Beam Wealth Advisors Inc. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 204,976 shares of the bank’s stock, valued at approximately $3,240,000.

Other hedge funds also recently made changes to their positions in the company. Munich Reinsurance Co Stock Corp in Munich grew its position in Huntington Bancshares by 18.9% in the first quarter. Munich Reinsurance Co Stock Corp in Munich now owns 4,992,023 shares of the bank’s stock worth $78,125,000 after acquiring an additional 794,347 shares in the last quarter. Greenwood Capital Associates LLC raised its position in Huntington Bancshares by 6.6% during the first quarter. Greenwood Capital Associates LLC now owns 407,441 shares of the bank’s stock valued at $6,376,000 after purchasing an additional 25,265 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Huntington Bancshares by 29.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 232,524 shares of the bank’s stock worth $3,639,000 after purchasing an additional 52,500 shares during the last quarter. Quantum Portfolio Management LLC bought a new stake in Huntington Bancshares during the first quarter worth about $156,000. Finally, Nicholas Hoffman & Company LLC. purchased a new position in shares of Huntington Bancshares in the 1st quarter worth about $11,081,000. 80.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several recent research reports. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada boosted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, April 23rd. UBS Group lifted their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings upgraded shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Huntington Bancshares Stock Down 3.1%

Shares of NASDAQ:HBAN opened at $17.46 on Thursday. The stock has a market capitalization of $35.39 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. The stock’s 50-day moving average price is $16.67 and its 200-day moving average price is $16.90. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the company posted $0.34 EPS. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were given a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s payout ratio is presently 47.69%.

Insider Buying and Selling

In other news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 33,500 shares of company stock valued at $617,542. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.