Huntington Bancshares Incorporated (NASDAQ:HBAN) Stake Lifted by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,955 shares of the bank’s stock after purchasing an additional 762 shares during the period. Summit Financial Strategies Inc.’s holdings in Huntington Bancshares were worth $408,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares during the first quarter valued at about $29,000. Nemes Rush Group LLC boosted its holdings in shares of Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares in the first quarter worth approximately $30,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $40,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction 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 sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction 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 directly owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders sold a total of 123,900 shares of company stock valued at $1,862,176 over the last ninety days. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded up $0.13 during midday trading on Friday, hitting $13.90. The company had a trading volume of 10,559,553 shares, compared to its average volume of 17,190,285. The firm has a fifty day simple moving average of $13.51 and a two-hundred day simple moving average of $13.43. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 2.94 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period last year, the business earned $0.35 earnings per share. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.46%. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HBAN shares. Argus increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada boosted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods cut their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group lowered their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.59.

Huntington Bancshares 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.