PFG Advisors Sells 1,020 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Posted by Defense World Staff on Apr 13th, 2023

PFG Advisors trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,079 shares of the bank’s stock after selling 1,020 shares during the period. PFG Advisors’ holdings in Huntington Bancshares were worth $297,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CI Investments Inc. grew its holdings in Huntington Bancshares by 994.3% during the 3rd quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock valued at $25,000 after buying an additional 1,730 shares in the last quarter. Allworth Financial LP grew its holdings in Huntington Bancshares by 91.9% during the 3rd quarter. Allworth Financial LP now owns 1,998 shares of the bank’s stock valued at $26,000 after buying an additional 957 shares in the last quarter. Retirement Financial Solutions LLC purchased a new position in Huntington Bancshares during the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its holdings in Huntington Bancshares by 149.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock valued at $34,000 after buying an additional 1,543 shares in the last quarter. Finally, Horan Securities Inc. grew its holdings in Huntington Bancshares by 111.3% during the 3rd quarter. Horan Securities Inc. now owns 3,087 shares of the bank’s stock valued at $41,000 after buying an additional 1,626 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $11.32 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 0.84. Huntington Bancshares Incorporated has a fifty-two week low of $9.94 and a fifty-two week high of $15.74. The stock has a 50 day moving average price of $13.23 and a two-hundred day moving average price of $14.01. The company has a market capitalization of $16.41 billion, a P/E ratio of 7.81, a PEG ratio of 5.81 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last announced its quarterly earnings data on Friday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. Huntington Bancshares had a return on equity of 14.79% and a net margin of 28.15%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.95 billion. Analysts expect that Huntington Bancshares Incorporated will post 1.47 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 20th were given a $0.155 dividend. The ex-dividend date of this dividend was Friday, March 17th. This represents a $0.62 annualized dividend and a yield of 5.48%. Huntington Bancshares’s payout ratio is currently 42.76%.

Analysts Set New Price Targets

Several research analysts have recently commented on HBAN shares. UBS Group lowered Huntington Bancshares from a “buy” rating to a “neutral” rating in a report on Monday. Piper Sandler cut their price objective on Huntington Bancshares from $15.00 to $14.50 in a report on Friday, March 10th. Morgan Stanley cut their price objective on Huntington Bancshares from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. DA Davidson started coverage on Huntington Bancshares in a report on Tuesday, December 20th. They set a “neutral” rating and a $15.00 price objective for the company. They noted that the move was a valuation call. Finally, Raymond James dropped their target price on Huntington Bancshares from $18.00 to $15.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares has an average rating of “Hold” and a consensus price target of $14.13.

Insider Activity at Huntington Bancshares

In related news, Director David L. Porteous sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the completion of the transaction, the director now owns 62,845 shares in the company, valued at $943,303.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Profile

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.