Financial Strategies Group Inc. Reduces Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Financial Strategies Group Inc. lowered its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 18,844 shares of the bank’s stock after selling 1,279 shares during the quarter. Financial Strategies Group Inc.’s holdings in Huntington Bancshares were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HBAN. Wetzel Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares during the 1st quarter valued at about $29,000. Nemes Rush Group LLC raised its holdings in shares of 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 buying an additional 1,391 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of Huntington Bancshares during the 4th quarter valued at about $33,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Huntington Bancshares during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a report on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Evercore ISI reduced their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Piper Sandler lowered Huntington Bancshares from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $13.50 to $11.50 in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $15.03.

Huntington Bancshares Stock Down 0.7 %

Shares of NASDAQ HBAN traded down $0.09 during mid-day trading on Tuesday, hitting $13.07. 7,009,937 shares of the stock traded hands, compared to its average volume of 17,002,285. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $14.30. The company has a market cap of $18.94 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 2.49 and a beta of 1.06. The stock has a fifty day moving average price of $13.41 and a 200-day moving average price of $13.16.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $0.38 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Monday, June 17th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,829 shares of company stock worth $2,148,623. 0.92% of the stock is owned by insiders.

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.