Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,486 shares of the bank’s stock after selling 1,198 shares during the period. Balboa Wealth Partners’ holdings in Huntington Bancshares were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Asset Dedication LLC lifted its position in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new position in shares of Huntington Bancshares during the third quarter worth $29,000. Hazlett Burt & Watson Inc. lifted its position in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth $31,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth $32,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Evercore ISI lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Friday, July 26th. Piper Sandler lifted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Finally, Citigroup lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.09.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last 90 days. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.69 on Friday. Huntington Bancshares Incorporated has a 1 year low of $10.73 and a 1 year high of $17.97. The company has a market cap of $25.70 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a fifty day moving average of $15.38 and a 200-day moving average of $14.32.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

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.