Kowal Investment Group LLC Purchases New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kowal Investment Group LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,752 shares of the bank’s stock, valued at approximately $150,000.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 0.7% in the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after purchasing an additional 1,209,264 shares during the period. Boston Partners raised its stake in Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after buying an additional 17,365,446 shares in the last quarter. Norges Bank bought a new position in Huntington Bancshares in the fourth quarter worth approximately $206,703,000. Dimensional Fund Advisors LP raised its stake in Huntington Bancshares by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after buying an additional 765,070 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after buying an additional 1,838,019 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. UBS Group reduced their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Finally, Evercore ISI reduced their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.03.

Huntington Bancshares Trading Down 0.2 %

HBAN stock opened at $13.16 on Tuesday. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $14.30. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The company’s 50-day simple moving average is $13.41 and its 200-day simple moving average is $13.16. The firm has a market cap of $19.07 billion, a P/E ratio of 11.86, a PEG ratio of 2.49 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly 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 net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.71%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Buying and Selling

In related news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the transaction, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Rajeev Syal sold 11,627 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total transaction of $158,941.09. Following the completion of the sale, the vice president now owns 329,607 shares in the company, valued at approximately $4,505,727.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now 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 a total of 157,829 shares of company stock worth $2,148,623 in the last 90 days. Insiders own 0.92% of the company’s stock.

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.