Fortem Financial Group LLC Has $1.96 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fortem Financial Group LLC cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,704 shares of the bank’s stock after selling 1,176 shares during the period. Huntington Bancshares makes up 0.8% of Fortem Financial Group LLC’s holdings, making the stock its 29th largest position. Fortem Financial Group LLC’s holdings in Huntington Bancshares were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the first quarter valued at approximately $29,000. Nemes Rush Group LLC lifted its position in Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Huntington Bancshares during the 1st quarter worth about $30,000. Register Financial Advisors LLC acquired a new position in shares of Huntington Bancshares during the 1st quarter worth about $40,000. Finally, ORG Partners LLC grew its holdings in shares of Huntington Bancshares by 354.9% in the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after acquiring an additional 2,594 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the sale, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,622 shares of company stock worth $1,762,904. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $14.78 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The company has a 50 day simple moving average of $13.98 and a two-hundred day simple moving average of $13.60. The company has a market capitalization of $21.47 billion, a PE ratio of 13.32, a P/E/G ratio of 3.05 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the prior year, the company posted $0.35 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.19%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Analyst Upgrades and Downgrades

HBAN has been the subject of several recent research reports. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley increased their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Friday, July 26th. Argus lifted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Citigroup upped their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.59.

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.