Balanced Wealth Group LLC Takes $179,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Balanced Wealth Group LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, Holdings Channel.com reports. The firm purchased 14,061 shares of the bank’s stock, valued at approximately $179,000.

A number of other institutional investors have also recently made changes to their positions in HBAN. Lincoln National Corp raised its stake in Huntington Bancshares by 43.9% during the 4th quarter. Lincoln National Corp now owns 27,114 shares of the bank’s stock valued at $345,000 after buying an additional 8,269 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at $195,000. Sapient Capital LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter worth about $167,000. Axxcess Wealth Management LLC grew its stake in Huntington Bancshares by 21.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 76,738 shares of the bank’s stock worth $976,000 after acquiring an additional 13,357 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Huntington Bancshares by 9.3% during the 4th quarter. M&T Bank Corp now owns 48,717 shares of the bank’s stock worth $620,000 after purchasing an additional 4,155 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total transaction of $217,440.24. Following the sale, the insider now owns 65,195 shares in the company, valued at $902,298.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the sale, the insider now owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,092 shares of company stock worth $3,031,731. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on HBAN. UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $15.00 in a research report on Wednesday, February 14th. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. Evercore ISI boosted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada increased their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Stock Up 1.4 %

NASDAQ HBAN traded up $0.20 on Wednesday, reaching $14.05. The company had a trading volume of 15,104,028 shares, compared to its average volume of 17,234,266. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.08. The firm has a market capitalization of $20.36 billion, a PE ratio of 12.48, a P/E/G ratio of 2.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average of $13.48 and a 200-day moving average of $12.46.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm earned $0.38 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, June 14th. This represents a $0.62 annualized dividend and a yield of 4.41%. Huntington Bancshares’s payout ratio is 55.86%.

Huntington Bancshares Company 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 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.