Global Retirement Partners LLC Buys 1,572 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Posted by Defense World Staff on Aug 14th, 2023

Global Retirement Partners LLC lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 29.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,978 shares of the bank’s stock after purchasing an additional 1,572 shares during the period. Global Retirement Partners LLC’s holdings in Huntington Bancshares were worth $70,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in shares of Huntington Bancshares during the 1st quarter worth $25,000. Archer Investment Corp purchased a new stake in Huntington Bancshares in the 4th quarter worth about $27,000. Lindbrook Capital LLC increased its holdings in Huntington Bancshares by 167.9% in the 1st quarter. Lindbrook Capital LLC now owns 3,357 shares of the bank’s stock worth $38,000 after acquiring an additional 2,104 shares during the last quarter. Trust Co. of Vermont purchased a new stake in Huntington Bancshares in the 1st quarter worth about $39,000. Finally, Horan Securities Inc. increased its holdings in Huntington Bancshares by 37.7% in the 1st quarter. Horan Securities Inc. now owns 3,696 shares of the bank’s stock worth $41,000 after acquiring an additional 1,011 shares during the last quarter. 78.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HBAN. DA Davidson lifted their price objective on Huntington Bancshares from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. JPMorgan Chase & Co. raised Huntington Bancshares from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $12.00 to $13.00 in a report on Tuesday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 target price on shares of Huntington Bancshares in a report on Monday, July 24th. StockNews.com initiated coverage on Huntington Bancshares in a report on Thursday, May 18th. They set a “sell” rating for the company. Finally, The Goldman Sachs Group lifted their target price on Huntington Bancshares from $12.00 to $13.50 and gave the company a “buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Hold” and an average target price of $13.31.

Read Our Latest Research Report on Huntington Bancshares

Insider Activity

In other news, insider Helga Houston sold 12,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total transaction of $146,991.60. Following the transaction, the insider now directly owns 594,564 shares of the company’s stock, valued at $7,116,931.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Helga Houston sold 12,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total transaction of $146,991.60. Following the transaction, the insider now directly owns 594,564 shares of the company’s stock, valued at $7,116,931.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul G. Heller sold 23,817 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total value of $283,184.13. Following the transaction, the executive vice president now directly owns 505,910 shares in the company, valued at $6,015,269.90. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $12.00 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $15.74. The stock has a 50 day moving average price of $11.32 and a two-hundred day moving average price of $11.92. The company has a market capitalization of $17.37 billion, a P/E ratio of 7.74, a PEG ratio of 6.65 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 15.20% and a net margin of 24.74%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.38 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, September 15th. This represents a $0.62 annualized dividend and a dividend yield of 5.17%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 40.00%.

Huntington Bancshares Profile

(Free Report)

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).