RFG Advisory LLC Makes New Investment in Huntington Bancshares Incorporated $HBAN

RFG Advisory LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, HoldingsChannel.com reports. The firm acquired 90,753 shares of the bank’s stock, valued at approximately $1,420,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. MV Capital Management Inc. acquired a new stake in Huntington Bancshares in the 4th quarter worth about $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth about $26,000. South Plains Financial Inc. boosted its position in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the last quarter. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth approximately $28,000. Finally, Accredited Wealth Management LLC grew its holdings in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

HBAN opened at $17.79 on Friday. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.81 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $16.50 and a 200 day simple moving average of $16.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $0.34 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were 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 trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Huntington Bancshares stock in a transaction 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 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have bought 33,500 shares of company stock valued at $617,542. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on HBAN. Evercore reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Friday, June 12th. Royal Bank Of Canada reduced their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings lowered Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 18th. Stephens initiated coverage on Huntington Bancshares in a report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective on the stock. Finally, Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

Huntington Bancshares 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.