HighPoint Advisor Group LLC Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

HighPoint Advisor Group LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,339 shares of the bank’s stock, valued at approximately $299,000.

Other hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares in the 4th quarter worth approximately $29,000. Nemes Rush Group LLC boosted its stake in shares of Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares during the period. Planned Solutions Inc. acquired a new stake in Huntington Bancshares during the 4th quarter valued at $33,000. Baker Avenue Asset Management LP increased its stake in Huntington Bancshares by 31.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after buying an additional 963 shares during the period. Finally, Spartan Planning & Wealth Management acquired a new position in Huntington Bancshares in the 4th quarter worth $46,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the sale, the insider now owns 65,195 shares of the company’s stock, valued at $902,298.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at $902,298.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock valued at $2,148,623 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 0.5 %

NASDAQ:HBAN opened at $12.52 on Friday. The firm has a market capitalization of $18.14 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $14.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $13.46 and a 200-day moving average of $13.10.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned $0.38 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.155 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.95%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HBAN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Morgan Stanley reduced their target price on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Evercore ISI raised their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Stephens reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Finally, StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $15.13.

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.