Wedmont Private Capital Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wedmont Private Capital increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,262 shares of the bank’s stock after purchasing an additional 960 shares during the period. Wedmont Private Capital’s holdings in Huntington Bancshares were worth $200,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $29,000. Nemes Rush Group LLC grew its position 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 buying an additional 1,391 shares during the last quarter. Planned Solutions Inc. acquired a new position in shares of Huntington Bancshares during the fourth quarter worth $33,000. Baker Avenue Asset Management LP raised its stake in Huntington Bancshares by 31.8% in the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock valued at $42,000 after buying an additional 963 shares during the last quarter. Finally, Spartan Planning & Wealth Management purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $46,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $12.63 on Monday. The stock has a fifty day simple moving average of $13.45 and a 200-day simple moving average of $13.12. 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 market cap of $18.30 billion, a PE ratio of 11.38, a P/E/G ratio of 2.32 and a beta of 1.08. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.38 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 yield of 4.91%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 target price on shares of Huntington Bancshares in a report on Tuesday, June 11th. Stephens reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

Insider Activity

In related news, insider Helga Houston sold 7,278 shares of the 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 transaction, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, 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 ninety days, insiders sold 157,829 shares of company stock valued at $2,148,623. 0.89% of the stock is currently owned by corporate insiders.

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.