Kowal Investment Group LLC Takes $150,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kowal Investment Group LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,752 shares of the bank’s stock, valued at approximately $150,000.

A number of other hedge funds have also made changes to their positions in HBAN. Wetzel Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares during the 1st quarter valued at $29,000. Nemes Rush Group LLC grew its holdings in Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares in the last quarter. Planned Solutions Inc. acquired a new stake in Huntington Bancshares during the 4th quarter valued at $33,000. Finally, Register Financial Advisors LLC acquired a new position in Huntington Bancshares during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.2 %

HBAN stock opened at $13.16 on Tuesday. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $14.30. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The firm’s 50-day moving average is $13.41 and its two-hundred day moving average is $13.16. 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 released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm earned $0.38 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.71%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $8,851,050.56. 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 owned by corporate insiders.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $15.00 price objective on shares of Huntington Bancshares in a report on Tuesday, June 11th. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a 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, June 19th. Piper Sandler lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $13.50 to $11.50 in a report on Friday, June 14th. Finally, Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.03.

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.