HighTower Advisors LLC Has $5.52 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

HighTower Advisors LLC lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.5% in the third quarter, HoldingsChannel reports. The firm owned 375,907 shares of the bank’s stock after selling 53,517 shares during the period. HighTower Advisors LLC’s holdings in Huntington Bancshares were worth $5,515,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in shares of Huntington Bancshares by 4.9% in the 2nd quarter. QRG Capital Management Inc. now owns 18,580 shares of the bank’s stock worth $245,000 after acquiring an additional 868 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Huntington Bancshares by 65.8% during the second quarter. Wedmont Private Capital now owns 23,652 shares of the bank’s stock worth $320,000 after purchasing an additional 9,390 shares during the last quarter. M&G Plc acquired a new stake in shares of Huntington Bancshares in the second quarter valued at $920,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Huntington Bancshares by 26.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,649 shares of the bank’s stock valued at $1,761,000 after buying an additional 28,174 shares during the last quarter. Finally, ORG Partners LLC lifted its position in Huntington Bancshares by 354.9% during the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock worth $44,000 after buying an additional 2,594 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Insider Activity at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

HBAN stock opened at $17.24 on Wednesday. Huntington Bancshares Incorporated has a 1-year low of $11.77 and a 1-year high of $18.44. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm has a market cap of $25.05 billion, a PE ratio of 16.58, a P/E/G ratio of 3.51 and a beta of 1.06. The business’s 50-day moving average price is $16.47 and its two-hundred day moving average price is $14.79.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $0.36 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HBAN shares. Citigroup boosted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group boosted their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. Piper Sandler boosted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

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.