Marcum Wealth LLC Has $665,000 Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Marcum Wealth LLC lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,447 shares of the bank’s stock after selling 1,051 shares during the quarter. Marcum Wealth LLC’s holdings in Huntington Bancshares were worth $665,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in shares of Huntington Bancshares by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 119,333 shares of the bank’s stock valued at $1,518,000 after buying an additional 4,464 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Huntington Bancshares by 4.7% in the fourth quarter. State of Michigan Retirement System now owns 415,650 shares of the bank’s stock worth $5,287,000 after acquiring an additional 18,700 shares during the period. Ballentine Partners LLC acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $197,000. Arizona State Retirement System grew its holdings in Huntington Bancshares by 1.0% during the fourth quarter. Arizona State Retirement System now owns 397,936 shares of the bank’s stock worth $5,062,000 after buying an additional 4,089 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its stake in Huntington Bancshares by 170.9% in the 4th quarter. SteelPeak Wealth LLC now owns 32,778 shares of the bank’s stock valued at $420,000 after purchasing an additional 20,678 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.47 during midday trading on Monday, reaching $13.28. 23,358,664 shares of the company’s stock were exchanged, compared to its average volume of 17,525,650. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $15.24. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 2.94 and a beta of 1.06. The stock’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $13.40.

Huntington Bancshares (NASDAQ:HBAN) last posted 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 firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.19 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 Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Buying and Selling

In related news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the transaction, the insider now owns 648,904 shares in the company, valued at $8,851,050.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,900 shares of company stock valued at $1,862,176. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

HBAN has been the subject of a number of research reports. Keefe, Bruyette & Woods cut their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Friday, July 26th. UBS Group reduced their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Argus boosted their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada upped their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

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.