Cornerstone Wealth Group LLC Sells 1,787 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cornerstone Wealth Group LLC reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,504 shares of the bank’s stock after selling 1,787 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Huntington Bancshares were worth $218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. Lazard Asset Management LLC lifted its holdings in shares of Huntington Bancshares by 251,152.2% during the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock valued at $2,417,000 after acquiring an additional 173,295 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Huntington Bancshares by 53.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after acquiring an additional 564,729 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Huntington Bancshares by 8.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after acquiring an additional 10,795 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Huntington Bancshares by 39.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Huntington Bancshares by 715.0% during the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after acquiring an additional 3,729,974 shares during the period. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded up $0.41 during trading on Friday, reaching $14.63. 16,863,817 shares of the company traded hands, compared to its average volume of 17,038,111. The company’s 50 day moving average is $13.68 and its two-hundred day moving average is $13.48. The firm has a market capitalization of $21.20 billion, a PE ratio of 13.18, a PEG ratio of 2.94 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion during 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 in the prior year, the company posted $0.35 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.24%. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HBAN shares. Piper Sandler lifted their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 22nd. Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, July 26th. Citigroup lifted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Finally, Bank of America lifted their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Insider Activity

In related news, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the sale, the insider now directly owns 618,832 shares in the company, valued at approximately $9,294,856.64. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the sale, the insider now directly owns 618,832 shares in the company, valued at approximately $9,294,856.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The disclosure for this sale can be found here. In the last three months, insiders sold 123,900 shares of company stock worth $1,862,176. 0.89% of the stock is currently owned by company insiders.

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.