Code Waechter LLC Boosts Stake in Huntington Bancshares Incorporated $HBAN

Code Waechter LLC boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 44.3% in the second quarter, Holdings Channel reports. The institutional investor owned 31,736 shares of the bank’s stock after acquiring an additional 9,739 shares during the period. Code Waechter LLC’s holdings in Huntington Bancshares were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Accurate Wealth Management LLC lifted its holdings in Huntington Bancshares by 3.5% during the second quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock worth $319,000 after buying an additional 611 shares during the period. LifeWealth Investments LLC lifted its holdings in Huntington Bancshares by 2.3% during the second quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after buying an additional 632 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Huntington Bancshares by 0.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock worth $2,758,000 after buying an additional 668 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Huntington Bancshares by 2.4% during the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock worth $436,000 after buying an additional 691 shares during the period. Finally, Winch Advisory Services LLC lifted its holdings in Huntington Bancshares by 18.3% during the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock worth $69,000 after buying an additional 709 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $15.37 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The stock’s fifty day moving average price is $16.84 and its 200 day moving average price is $16.33. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company has a market cap of $22.43 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 0.66 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The firm had revenue of $469.00 million for the quarter. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 43.36%.

Insider Activity

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares of the company’s stock, valued at $5,388,498. This represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a report on Friday, October 10th. DA Davidson reiterated a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a report on Tuesday, October 28th. Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Evercore ISI assumed coverage on Huntington Bancshares in a report on Tuesday, October 21st. They set an “outperform” rating and a $18.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.82.

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.