Orion Portfolio Solutions LLC Lowers Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Orion Portfolio Solutions LLC lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 246,211 shares of the bank’s stock after selling 21,871 shares during the period. Orion Portfolio Solutions LLC’s holdings in Huntington Bancshares were worth $3,435,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $29,000. Nemes Rush Group LLC raised its stake in shares of Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after acquiring an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $30,000. Finally, Planned Solutions Inc. bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded up $0.56 on Friday, hitting $14.86. The company’s stock had a trading volume of 29,324,639 shares, compared to its average volume of 17,478,148. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $14.98. The firm has a fifty day moving average price of $13.36 and a 200-day moving average price of $13.23. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 5.72 and a beta of 1.06.

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

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.17%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HBAN. Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a research note on Monday, April 22nd. Jefferies Financial Group cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Evercore ISI cut their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Finally, Piper Sandler lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $13.50 to $11.50 in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.93.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of the business’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 sale, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Kendall A. Kowalski sold 15,948 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total value of $214,819.56. Following the completion of the sale, the insider now directly owns 21,102 shares in the company, valued at $284,243.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The disclosure for this sale can be found here. In the last three months, insiders sold 157,829 shares of company stock worth $2,148,623. Corporate insiders own 0.89% of the company’s stock.

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.