Bellwether Advisors LLC Acquires New Stake in Huntington Bancshares Incorporated $HBAN

Bellwether Advisors LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 231,117 shares of the bank’s stock, valued at approximately $3,617,000.

Several other hedge funds also recently made changes to their positions in HBAN. MV Capital Management Inc. acquired a new position in shares of Huntington Bancshares during the fourth quarter worth about $25,000. Palisade Asset Management LLC purchased a new stake in Huntington Bancshares in the 3rd quarter valued at approximately $26,000. Centennial Bank AR purchased a new stake in Huntington Bancshares in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. increased its position in Huntington Bancshares by 48.8% during the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock worth $34,000 after purchasing an additional 707 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in Huntington Bancshares by 80.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock worth $35,000 after purchasing an additional 994 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 33,500 shares of company stock worth $617,542. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Trading Up 0.6%

Huntington Bancshares stock opened at $18.17 on Wednesday. The stock has a 50-day moving average price of $16.99 and a 200 day moving average price of $16.93. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The stock has a market cap of $36.83 billion, a PE ratio of 13.98, a P/E/G ratio of 0.81 and a beta of 0.93. 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 (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the firm earned $0.34 EPS. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on HBAN shares. Morgan Stanley raised their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Royal Bank Of Canada upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Weiss Ratings raised Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Finally, Jefferies Financial Group lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating and decreased their target price for the stock from $21.00 to $19.00 in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.