Presper Financial Architects LLC Makes New Investment in Huntington Bancshares Incorporated $HBAN

Presper Financial Architects LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 48,406 shares of the bank’s stock, valued at approximately $811,000. Huntington Bancshares accounts for approximately 0.6% of Presper Financial Architects LLC’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC grew its holdings in Huntington Bancshares by 3.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock valued at $319,000 after purchasing an additional 611 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Huntington Bancshares by 0.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock valued at $2,758,000 after purchasing an additional 668 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in Huntington Bancshares by 2.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock valued at $436,000 after purchasing an additional 691 shares during the last quarter. Winch Advisory Services LLC grew its holdings in Huntington Bancshares by 18.3% during the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock valued at $69,000 after purchasing an additional 709 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Huntington Bancshares by 2.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 29,032 shares of the bank’s stock valued at $487,000 after purchasing an additional 731 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.35 on Tuesday. The company has a 50 day moving average price of $17.08 and a 200-day moving average price of $15.97. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The stock has a market capitalization of $25.31 billion, a PE ratio of 12.85, a PEG ratio of 0.84 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio is presently 45.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HBAN shares. Citigroup upped their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, September 19th. Truist Financial upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James Financial reissued a “strong-buy” rating and issued a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Finally, Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.05.

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.