Pathway Financial Advisers LLC Invests $569,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pathway Financial Advisers LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 40,778 shares of the bank’s stock, valued at approximately $569,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wetzel Investment Advisors Inc. acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at about $29,000. Nemes Rush Group LLC boosted its stake in shares of Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Huntington Bancshares during the first quarter worth about $30,000. Finally, Register Financial Advisors LLC purchased a new position in Huntington Bancshares during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN traded down $0.62 on Friday, reaching $13.75. 19,146,484 shares of the company’s stock were exchanged, compared to its average volume of 20,486,328. The stock has a market cap of $19.97 billion, a PE ratio of 12.39, a P/E/G ratio of 2.94 and a beta of 1.06. 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 twelve month low of $9.25 and a twelve month high of $15.24. The stock’s fifty day moving average price is $13.52 and its 200-day moving average price is $13.37.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate 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 return on equity of 11.34% and a net margin of 14.77%. During the same quarter last year, the firm earned $0.35 earnings per share. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.51%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Activity

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the sale, the insider now owns 65,899 shares in the company, valued at approximately $987,167.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,900 shares of company stock worth $1,862,176. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Bank of America upped their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Piper Sandler raised their price target on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research report on Monday, July 22nd. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, July 26th. Royal Bank of Canada raised their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Citigroup upped their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.47.

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.