Transcend Capital Advisors LLC Grows Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Transcend Capital Advisors LLC grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,214 shares of the bank’s stock after purchasing an additional 3,401 shares during the period. Transcend Capital Advisors LLC’s holdings in Huntington Bancshares were worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in shares of Huntington Bancshares by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after acquiring an additional 780 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Huntington Bancshares by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after buying an additional 794 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Huntington Bancshares by 6.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 13,261 shares of the bank’s stock valued at $185,000 after buying an additional 805 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Huntington Bancshares by 4.7% during the first quarter. Arkadios Wealth Advisors now owns 17,930 shares of the bank’s stock worth $250,000 after acquiring an additional 811 shares during the period. Finally, Mather Group LLC. grew its holdings in Huntington Bancshares by 5.8% during the fourth quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after acquiring an additional 837 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now directly 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 valued at $1,862,176. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on HBAN shares. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Friday, July 26th. Jefferies Financial Group reduced their target price 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. Argus lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. UBS Group cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Finally, Baird R W lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.47.

Huntington Bancshares Trading Down 3.5 %

Shares of HBAN stock traded down $0.48 during mid-day trading on Monday, reaching $13.27. The company’s stock had a trading volume of 12,582,985 shares, compared to its average volume of 17,447,887. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $15.24. The firm has a market capitalization of $19.23 billion, a PE ratio of 12.39, a price-to-earnings-growth 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. The company’s 50 day simple moving average is $13.52 and its 200-day simple moving average is $13.39.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate 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 posted $0.35 EPS. On average, research analysts predict that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.67%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

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.