LJI Wealth Management LLC Lowers Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

LJI Wealth Management LLC lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,914 shares of the bank’s stock after selling 5,120 shares during the period. LJI Wealth Management LLC’s holdings in Huntington Bancshares were worth $851,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. WealthShield Partners LLC increased its stake in shares of Huntington Bancshares by 5.9% during the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after buying an additional 683 shares during the period. UMB Bank n.a. raised its holdings in shares of Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after purchasing an additional 728 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares in the last quarter. Summit Financial Strategies Inc. boosted its stake in shares of Huntington Bancshares by 2.5% during the second quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after purchasing an additional 762 shares in the last quarter. Finally, TCW Group Inc. raised its stake in Huntington Bancshares by 4.1% in the second quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock worth $267,000 after buying an additional 794 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on HBAN shares. Evercore ISI increased their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Baird R W lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Robert W. Baird lowered 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 note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $16.09.

Huntington Bancshares Stock Performance

NASDAQ:HBAN traded up $0.16 during midday trading on Friday, hitting $17.69. The company’s stock had a trading volume of 16,154,708 shares, compared to its average volume of 16,113,701. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares Incorporated has a fifty-two week low of $10.73 and a fifty-two week high of $17.97. The firm’s 50 day moving average is $15.38 and its 200-day moving average is $14.32. The firm has a market cap of $25.70 billion, a P/E ratio of 17.01, a P/E/G ratio of 3.55 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.50%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 28,600 shares of the 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 sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 over the last ninety days. Company insiders own 0.89% of the company’s stock.

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.