Beacon Investment Advisory Services Inc. Decreases Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Beacon Investment Advisory Services Inc. lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,882 shares of the bank’s stock after selling 5,677 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Huntington Bancshares were worth $807,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBAN. American Century Companies Inc. lifted its stake in Huntington Bancshares by 47.2% in the 3rd quarter. American Century Companies Inc. now owns 501,881 shares of the bank’s stock valued at $5,220,000 after buying an additional 160,867 shares in the last quarter. First Hawaiian Bank purchased a new stake in Huntington Bancshares in the 4th quarter valued at approximately $161,000. Wedmont Private Capital purchased a new stake in Huntington Bancshares in the 4th quarter valued at approximately $174,000. Nordea Investment Management AB lifted its stake in Huntington Bancshares by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 117,128 shares of the bank’s stock valued at $1,493,000 after buying an additional 9,575 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Huntington Bancshares by 266.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 13,216 shares of the bank’s stock worth $168,000 after purchasing an additional 9,612 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Tuesday, June 11th. Stephens reissued an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. JPMorgan Chase & Co. cut their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Piper Sandler cut shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $13.50 to $11.50 in a report on Friday, June 14th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.93.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the transaction, the insider now owns 648,904 shares in the company, valued at $8,851,050.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the transaction, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now directly owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,829 shares of company stock worth $2,148,623. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.45 during mid-day trading on Friday, reaching $14.75. 19,816,305 shares of the company traded hands, compared to its average volume of 17,409,250. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $14.98. 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 market cap of $21.38 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06. The stock has a fifty day simple moving average of $13.34 and a 200-day simple moving average of $13.22.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period last year, the business earned $0.35 EPS. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.17 EPS for the current fiscal year.

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.