Advisory Alpha LLC Raises Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Advisory Alpha LLC lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.0% during the 2nd quarter, Holdings Channel reports. The firm owned 21,884 shares of the bank’s stock after buying an additional 1,236 shares during the period. Advisory Alpha LLC’s holdings in Huntington Bancshares were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HBAN. Lazard Asset Management LLC increased its stake in shares of Huntington Bancshares by 251,152.2% during the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after buying an additional 173,295 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Huntington Bancshares by 53.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after purchasing an additional 564,729 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Huntington Bancshares by 8.6% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after purchasing an additional 10,795 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after purchasing an additional 1,838,019 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Huntington Bancshares by 160.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 206,193 shares of the bank’s stock worth $2,623,000 after purchasing an additional 126,900 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

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

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.21 on Thursday. The stock has a market capitalization of $20.59 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 3.07 and a beta of 1.04. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24. The stock’s 50-day moving average price is $14.35 and its 200 day moving average price is $13.80. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

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, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HBAN shares. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Baird R W lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley upped their price target on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Bank of America raised their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Evercore ISI lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a report on Wednesday. Two equities 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 given a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

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.