Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 29.9% during the third quarter, Holdings Channel.com reports. The fund owned 15,997 shares of the bank’s stock after selling 6,822 shares during the quarter. Wrapmanager Inc.’s holdings in Huntington Bancshares were worth $235,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. WealthShield Partners LLC lifted its position in shares of Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after acquiring an additional 683 shares in the last quarter. UMB Bank n.a. grew its stake in Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after acquiring an additional 728 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Huntington Bancshares by 3.2% in the second quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares during the last quarter. Summit Financial Strategies Inc. lifted its position in Huntington Bancshares by 2.5% during the second quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after buying an additional 762 shares in the last quarter. Finally, TCW Group Inc. boosted its stake in Huntington Bancshares by 4.1% during the second quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock worth $267,000 after buying an additional 794 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HBAN. Barclays upped their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Citigroup boosted their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research report on Friday, July 26th. Finally, Piper Sandler raised their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.26.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.92% of the company’s stock.

Huntington Bancshares Trading Down 1.5 %

HBAN opened at $17.54 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $10.73 and a one year high of $17.97. The company has a market cap of $25.48 billion, a P/E ratio of 16.87, a PEG ratio of 3.53 and a beta of 1.03. The business’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $14.39.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.36 EPS. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

Huntington Bancshares 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.