Kingswood Wealth Advisors LLC Reduces Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kingswood Wealth Advisors LLC reduced its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,671 shares of the bank’s stock after selling 1,820 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Huntington Bancshares were worth $302,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HBAN. Boston Partners lifted its position in Huntington Bancshares by 59.3% during the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after acquiring an additional 17,365,446 shares during the period. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter valued at about $206,703,000. KBC Group NV increased its stake in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after purchasing an additional 3,729,974 shares in the last quarter. Bank of Nova Scotia increased its stake in Huntington Bancshares by 641.5% during the 4th quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock valued at $35,301,000 after purchasing an additional 2,401,067 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Huntington Bancshares during the 3rd quarter valued at about $20,004,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now owns 65,195 shares of the company’s stock, valued at $902,298.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kendall A. Kowalski sold 15,711 shares of the business’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 completion of the sale, the insider now owns 65,195 shares in the company, valued at approximately $902,298.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore ISI reduced their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Finally, Piper Sandler lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $13.50 to $11.50 in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.03.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $13.18 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $14.30. The company has a market capitalization of $19.10 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.40 and a beta of 1.08. The firm’s 50 day simple moving average is $13.42 and its two-hundred day simple moving average is $13.14.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

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.