Marcum Wealth LLC Purchases 3,205 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Marcum Wealth LLC boosted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,498 shares of the bank’s stock after purchasing an additional 3,205 shares during the period. Marcum Wealth LLC’s holdings in Huntington Bancshares were worth $718,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new position in Huntington Bancshares during the 4th quarter valued at about $29,000. Nemes Rush Group LLC lifted its position in shares of Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares in the last quarter. Planned Solutions Inc. acquired a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $33,000. Spartan Planning & Wealth Management acquired a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $46,000. Finally, Baker Avenue Asset Management LP lifted its position in shares of Huntington Bancshares by 31.8% during the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after purchasing an additional 963 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now 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. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,829 shares of company stock worth $2,148,623. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Up 0.9 %

Huntington Bancshares stock opened at $12.63 on Friday. The company has a market cap of $18.30 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 2.32 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 fifty day simple moving average of $13.45 and a 200 day simple moving average of $13.10. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 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 net margin of 15.86% and a return on equity of 11.99%. During the same quarter last year, the company posted $0.38 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HBAN. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.13.

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.