Summit Trail Advisors LLC Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Summit Trail Advisors LLC lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,479 shares of the bank’s stock after purchasing an additional 1,294 shares during the quarter. Summit Trail Advisors LLC’s holdings in Huntington Bancshares were worth $220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the 1st quarter valued at approximately $29,000. YHB Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares in the 1st quarter valued at approximately $30,000. Hazlett Burt & Watson Inc. raised its position in shares of Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Huntington Bancshares during the 1st quarter worth approximately $40,000. Finally, ORG Partners LLC raised its position in Huntington Bancshares by 354.9% during the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock worth $44,000 after buying an additional 2,594 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group reduced their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada raised their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Piper Sandler raised their price target on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.59.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now owns 265,809 shares in the company, valued at $4,021,690.17. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock valued at $1,762,904 in the last 90 days. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $14.51 on Wednesday. The company’s fifty day moving average price is $14.39 and its 200 day moving average price is $13.75. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.24. The stock has a market capitalization of $21.03 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.27%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

About Huntington Bancshares

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.