True Wealth Design LLC Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

True Wealth Design LLC trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 34.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,283 shares of the bank’s stock after selling 1,226 shares during the period. True Wealth Design LLC’s holdings in Huntington Bancshares were worth $34,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS purchased a new stake in Huntington Bancshares in the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. lifted its position in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after buying an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the third quarter worth about $31,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares during the third quarter valued at about $32,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HBAN. Piper Sandler upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. The Goldman Sachs Group upped their price target on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. DA Davidson increased their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Barclays raised their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.62.

Huntington Bancshares Trading Up 0.1 %

NASDAQ HBAN opened at $18.01 on Monday. Huntington Bancshares Incorporated has a 52 week low of $11.10 and a 52 week high of $18.44. The firm has a 50 day moving average of $16.05 and a two-hundred day moving average of $14.61. The stock has a market capitalization of $26.17 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

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

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 dated Wednesday, October 23rd. The stock was 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 in the company, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last three months. 0.89% of the stock is owned by corporate 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.