Balanced Wealth Group LLC Boosts Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Balanced Wealth Group LLC boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 30.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 18,406 shares of the bank’s stock after purchasing an additional 4,345 shares during the period. Balanced Wealth Group LLC’s holdings in Huntington Bancshares were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HBAN. Boston Partners raised its position in shares of Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. KBC Group NV lifted its holdings in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after buying an additional 3,729,974 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Huntington Bancshares by 832.7% in the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after buying an additional 2,979,768 shares during the period. Scout Investments Inc. purchased a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $35,428,000. Finally, Bank of Nova Scotia lifted its holdings in Huntington Bancshares by 641.5% during the 4th quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock worth $35,301,000 after buying an additional 2,401,067 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced 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. Finally, Piper Sandler increased their price target on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.59.

Insider Activity at Huntington Bancshares

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

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $14.86 on Friday. The company has a market capitalization of $21.54 billion, a P/E ratio of 13.39, a P/E/G ratio of 2.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.24. The business has a 50 day moving average of $14.36 and a 200-day moving average of $13.74.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period last year, the company earned $0.35 earnings per share. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.17%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 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.