Axxcess Wealth Management LLC Cuts Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Axxcess Wealth Management LLC lessened its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 20.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,058 shares of the bank’s stock after selling 19,011 shares during the period. Axxcess Wealth Management LLC’s holdings in Huntington Bancshares were worth $963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the period. Victory Capital Management Inc. grew its stake in Huntington Bancshares by 0.4% during the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock worth $236,640,000 after buying an additional 65,355 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth $206,703,000. Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after acquiring an additional 561,565 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on HBAN. Morgan Stanley raised their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Bank of America raised their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Argus upped their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Piper Sandler lifted their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research note on Monday, July 22nd. Finally, UBS Group decreased their target price 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.59.

Huntington Bancshares Stock Up 2.7 %

Shares of Huntington Bancshares stock opened at $14.96 on Friday. The business has a 50-day moving average price of $14.31 and a 200 day moving average price of $13.72. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The firm has a market cap of $21.68 billion, a P/E ratio of 13.48, a P/E/G ratio of 2.90 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the previous year, the business earned $0.35 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the transaction, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock valued at $1,762,904 in the last quarter. Insiders own 0.89% of the company’s stock.

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 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.