Spartan Wealth Advisory Services LLC Acquires Shares of 40,014 Huntington Bancshares Incorporated $HBAN

Spartan Wealth Advisory Services LLC bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 40,014 shares of the bank’s stock, valued at approximately $626,000.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares in the last quarter. Norges Bank bought a new position in Huntington Bancshares in the fourth quarter worth approximately $432,584,000. Vanguard Group Inc. grew its stake in Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares in the last quarter. Marshall Wace LLP increased its holdings in Huntington Bancshares by 2,458.7% during the 4th quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank’s stock worth $78,354,000 after purchasing an additional 4,339,571 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Huntington Bancshares during the 4th quarter worth $75,236,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the business’s 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 sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders acquired 33,500 shares of company stock valued at $617,542. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $18.25 on Monday. The firm’s 50 day moving average price is $16.90 and its 200-day moving average price is $16.92. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a market cap of $37.00 billion, a P/E ratio of 14.04, a PEG ratio of 0.82 and a beta of 0.93.

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

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Morgan Stanley raised their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Jefferies Financial Group downgraded Huntington Bancshares from a “buy” rating to a “hold” rating and decreased their price objective for the company from $21.00 to $19.00 in a report on Monday, July 6th. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, UBS Group increased their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

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.