ICA Group Wealth Management LLC Trims Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

ICA Group Wealth Management LLC trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 34.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,092 shares of the bank’s stock after selling 1,116 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Huntington Bancshares were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of HBAN. Stoneridge Investment Partners LLC bought a new stake in Huntington Bancshares in the second quarter worth $1,198,000. GHP Investment Advisors Inc. grew its position in Huntington Bancshares by 2.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 157,066 shares of the bank’s stock valued at $2,070,000 after purchasing an additional 4,268 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in Huntington Bancshares by 13.6% during the 2nd quarter. Meeder Advisory Services Inc. now owns 40,478 shares of the bank’s stock valued at $534,000 after purchasing an additional 4,850 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Huntington Bancshares by 43.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 839,162 shares of the bank’s stock worth $10,667,000 after buying an additional 252,916 shares during the last quarter. Finally, Vest Financial LLC lifted its stake in shares of Huntington Bancshares by 36.5% in the second quarter. Vest Financial LLC now owns 87,561 shares of the bank’s stock worth $1,154,000 after buying an additional 23,432 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares in the company, valued at $4,021,690.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $14.64 on Tuesday. The stock has a 50-day simple moving average of $14.25 and a two-hundred day simple moving average of $13.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24. The firm has a market capitalization of $21.22 billion, a PE ratio of 13.19, a P/E/G ratio of 2.90 and a beta of 1.05.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the firm posted $0.35 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.23%. Huntington Bancshares’s payout ratio is 55.86%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada boosted their price target on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Piper Sandler lifted their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday, July 22nd. Finally, Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares 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.