Leo Wealth LLC Makes New $255,000 Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Leo Wealth LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,082 shares of the bank’s stock, valued at approximately $255,000.

A number of other institutional investors have also recently made changes to their positions in HBAN. Kestra Advisory Services LLC lifted its position in shares of Huntington Bancshares by 23.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 477,530 shares of the bank’s stock valued at $4,966,000 after buying an additional 91,981 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at $181,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at $2,687,000. Envestnet Asset Management Inc. lifted its holdings in Huntington Bancshares by 26.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 6,109,368 shares of the bank’s stock worth $63,537,000 after purchasing an additional 1,277,811 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Huntington Bancshares during the 3rd quarter worth about $150,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of recent research reports. Evercore ISI increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Tuesday, June 11th. Morgan Stanley dropped their price objective on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, Stephens reissued an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $15.13.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following 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 have sold 157,829 shares of company stock worth $2,148,623. 0.92% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $12.39 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $17.96 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 2.29 and a beta of 1.08. The business’s 50-day moving average price is $13.54 and its 200-day moving average price is $13.10. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the company earned $0.38 EPS. Sell-side analysts forecast 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 Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 5.00%. 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.