ICA Group Wealth Management LLC Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

ICA Group Wealth Management LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,185 shares of the bank’s stock, valued at approximately $79,000.

Several other hedge funds also recently modified their holdings of HBAN. Wetzel Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares during the 4th quarter valued at $29,000. Nemes Rush Group LLC grew its holdings in shares of Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after acquiring an additional 1,391 shares during the last quarter. Planned Solutions Inc. acquired a new position in shares of Huntington Bancshares in the 4th quarter worth $33,000. Baker Avenue Asset Management LP grew its holdings in shares of Huntington Bancshares by 31.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after acquiring an additional 963 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Huntington Bancshares by 184.0% in the 4th quarter. Allworth Financial LP now owns 4,007 shares of the bank’s stock worth $51,000 after acquiring an additional 2,596 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,829 shares of company stock valued at $2,148,623. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stephens restated an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. UBS Group decreased their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Piper Sandler cut Huntington Bancshares from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $13.50 to $11.50 in a research report on Friday, June 14th. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.13.

Huntington Bancshares Price Performance

HBAN opened at $12.46 on Wednesday. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 2.29 and a beta of 1.08. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $14.30. 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 stock has a fifty day moving average price of $13.54 and a 200 day moving average price of $13.10.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter last year, the firm earned $0.38 earnings per share. 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. Investors 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 dividend on an annualized basis and a yield of 4.98%. Huntington Bancshares’s payout ratio is 55.86%.

Huntington Bancshares Company 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.