Schechter Investment Advisors LLC reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 19.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,739 shares of the bank’s stock after selling 2,819 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Huntington Bancshares were worth $131,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Archer Investment Corp acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $27,000. Retirement Financial Solutions LLC acquired a new position in Huntington Bancshares during the 4th quarter worth about $28,000. Lindbrook Capital LLC lifted its position in Huntington Bancshares by 167.9% during the 1st quarter. Lindbrook Capital LLC now owns 3,357 shares of the bank’s stock worth $38,000 after buying an additional 2,104 shares in the last quarter. Trust Co. of Vermont acquired a new position in Huntington Bancshares during the 1st quarter worth about $39,000. Finally, Horan Securities Inc. lifted its position in Huntington Bancshares by 37.7% during the 1st quarter. Horan Securities Inc. now owns 3,696 shares of the bank’s stock worth $41,000 after buying an additional 1,011 shares in the last quarter. 78.75% of the stock is owned by institutional investors and hedge funds.
Huntington Bancshares Stock Down 0.2 %
Shares of NASDAQ:HBAN opened at $11.86 on Friday. The company has a market capitalization of $17.12 billion, a PE ratio of 7.65, a PEG ratio of 6.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day moving average price of $10.74 and a two-hundred day moving average price of $12.21. Huntington Bancshares Incorporated has a 52 week low of $9.13 and a 52 week high of $15.74.
Huntington Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.23%. Huntington Bancshares’s payout ratio is 40.00%.
Insider Buying and Selling
In other news, Director Kenneth J. Phelan bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The shares were acquired at an average price of $10.80 per share, with a total value of $216,000.00. Following the transaction, the director now owns 89,285 shares in the company, valued at $964,278. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 98,608 shares of Huntington Bancshares stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $10.25, for a total value of $1,010,732.00. Following the sale, the chief financial officer now directly owns 188,767 shares in the company, valued at approximately $1,934,861.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth J. Phelan purchased 20,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was acquired at an average price of $10.80 per share, for a total transaction of $216,000.00. Following the completion of the purchase, the director now directly owns 89,285 shares in the company, valued at approximately $964,278. The disclosure for this purchase can be found here. 0.89% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on HBAN shares. StockNews.com initiated coverage on Huntington Bancshares in a report on Thursday, May 18th. They set a “sell” rating on the stock. UBS Group downgraded Huntington Bancshares from a “buy” rating to a “neutral” rating in a report on Monday, April 10th. Piper Sandler reduced their price objective on Huntington Bancshares from $13.00 to $12.00 in a report on Thursday, June 15th. Royal Bank of Canada cut their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, April 21st. Finally, Morgan Stanley cut their target price on shares of Huntington Bancshares from $18.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Hold” and a consensus price target of $13.75.
Huntington Bancshares Company 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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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