Heritage Wealth Management Inc. Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Heritage Wealth Management Inc. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 57,971 shares of the bank’s stock, valued at approximately $744,000.

A number of other hedge funds have also recently made changes to their positions in HBAN. Parallel Advisors LLC grew its holdings in shares of Huntington Bancshares by 38.7% during the fourth quarter. Parallel Advisors LLC now owns 7,542 shares of the bank’s stock valued at $96,000 after buying an additional 2,105 shares during the last quarter. TD Asset Management Inc raised its position in Huntington Bancshares by 5.1% in the fourth quarter. TD Asset Management Inc now owns 521,823 shares of the bank’s stock worth $6,638,000 after acquiring an additional 25,142 shares during the period. Stifel Financial Corp raised its position in Huntington Bancshares by 2.7% in the fourth quarter. Stifel Financial Corp now owns 1,340,804 shares of the bank’s stock worth $17,055,000 after acquiring an additional 34,705 shares during the period. Dorsey & Whitney Trust CO LLC bought a new stake in Huntington Bancshares in the fourth quarter worth about $135,000. Finally, California State Teachers Retirement System raised its position in shares of Huntington Bancshares by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 2,282,209 shares of the bank’s stock valued at $29,030,000 after purchasing an additional 29,475 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s 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 $4,021,690.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,622 shares of company stock valued at $1,762,904. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $14.32 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.24. The stock has a market cap of $20.75 billion, a PE ratio of 12.90, a P/E/G ratio of 3.07 and a beta of 1.05. The firm has a 50 day simple moving average of $14.36 and a two-hundred day simple moving average of $13.80.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the company earned $0.35 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a $0.155 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.33%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HBAN shares. Keefe, Bruyette & Woods lowered their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. UBS Group lowered their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. StockNews.com cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Royal Bank of Canada boosted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial 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 Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.59.

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.