Wrapmanager Inc. Grows Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wrapmanager Inc. lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 2.6% in the first quarter, HoldingsChannel reports. The firm owned 31,433 shares of the bank’s stock after acquiring an additional 793 shares during the quarter. Wrapmanager Inc.’s holdings in Huntington Bancshares were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tortoise Investment Management LLC boosted its holdings in Huntington Bancshares by 433.3% in the fourth quarter. Tortoise Investment Management LLC now owns 1,600 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,300 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Huntington Bancshares in the fourth quarter valued at $27,000. Riverview Trust Co purchased a new position in Huntington Bancshares in the first quarter valued at $27,000. Rockbridge Investment Management LCC boosted its holdings in Huntington Bancshares by 2,000.0% in the fourth quarter. Rockbridge Investment Management LCC now owns 2,100 shares of the bank’s stock valued at $32,000 after purchasing an additional 2,000 shares during the period. Finally, Selective Wealth Management Inc. lifted its holdings in Huntington Bancshares by 110.0% during the 1st quarter. Selective Wealth Management Inc. now owns 2,100 shares of the bank’s stock worth $31,000 after buying an additional 1,100 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HBAN shares. Keefe, Bruyette & Woods downgraded Huntington Bancshares from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $17.00 to $15.00 in a report on Thursday, June 2nd. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, April 22nd. Raymond James decreased their price target on Huntington Bancshares from $18.00 to $16.00 and set a “strong-buy” rating for the company in a report on Thursday, July 7th. Stephens raised Huntington Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $16.00 to $17.00 in a report on Monday, April 25th. Finally, The Goldman Sachs Group reduced their target price on Huntington Bancshares from $17.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, May 31st. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.11.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.47 on Wednesday. The stock has a market capitalization of $20.87 billion, a PE ratio of 12.92 and a beta of 1.20. Huntington Bancshares Incorporated has a 52-week low of $11.67 and a 52-week high of $17.79. The stock’s 50-day moving average price is $12.79 and its 200 day moving average price is $13.86. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.50.

Huntington Bancshares (NASDAQ:HBANGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same period in the previous year, the firm posted $0.35 EPS. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.46 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.28%. The ex-dividend date is Friday, September 16th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.36%.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 28,166 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $13.77, for a total transaction of $387,845.82. Following the transaction, the insider now owns 496,474 shares in the company, valued at approximately $6,836,446.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 5,456 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $13.72, for a total value of $74,856.32. Following the sale, the chief financial officer now owns 207,777 shares in the company, valued at approximately $2,850,700.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Helga Houston sold 28,166 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $13.77, for a total value of $387,845.82. Following the completion of the sale, the insider now owns 496,474 shares in the company, valued at approximately $6,836,446.98. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Huntington Bancshares Company Profile

(Get Rating)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating).

Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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