Axxcess Wealth Management LLC Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Axxcess Wealth Management LLC increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 21.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 76,738 shares of the bank’s stock after purchasing an additional 13,357 shares during the period. Axxcess Wealth Management LLC’s holdings in Huntington Bancshares were worth $976,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HBAN. Boston Partners lifted its holdings in Huntington Bancshares by 33.0% during the 3rd quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after purchasing an additional 7,271,405 shares in the last quarter. Victory Capital Management Inc. increased its stake in Huntington Bancshares by 23.7% in the 3rd quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after acquiring an additional 3,438,552 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Huntington Bancshares in the 3rd quarter worth about $20,004,000. AQR Capital Management LLC increased its stake in Huntington Bancshares by 1,652.2% in the 3rd quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock worth $18,786,000 after acquiring an additional 1,703,245 shares during the last quarter. Finally, Barclays PLC increased its stake in Huntington Bancshares by 31.6% in the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock worth $56,117,000 after acquiring an additional 1,296,978 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN opened at $13.92 on Tuesday. The stock’s 50 day simple moving average is $13.46 and its 200 day simple moving average is $12.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.07. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.55 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned $0.38 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,381 shares of company stock worth $2,814,291. 0.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HBAN has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Evercore ISI upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.17.

About Huntington Bancshares

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.