Huntington Bancshares Incorporated $HBAN Stock Position Raised by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 29.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,562 shares of the bank’s stock after acquiring an additional 42,137 shares during the period. Kestra Private Wealth Services LLC’s holdings in Huntington Bancshares were worth $2,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares in the third quarter valued at $26,000. South Plains Financial Inc. boosted its holdings in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after acquiring an additional 826 shares during the period. Centennial Bank AR bought a new position in shares of Huntington Bancshares during the fourth quarter worth about $28,000. Finally, Accredited Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after acquiring an additional 1,322 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HBAN. Stephens began coverage on shares of Huntington Bancshares in a research note on Monday, June 15th. They set an “equal weight” rating and a $19.00 target price for the company. Evercore reissued an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a report on Friday, June 12th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.79 on Friday. The company has a 50-day moving average of $16.50 and a 200-day moving average of $16.89. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period in the prior year, the business earned $0.34 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 33,500 shares of company stock valued at $617,542 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.