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

Wrapmanager Inc. lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,819 shares of the bank’s stock after selling 3,771 shares during the quarter. Wrapmanager Inc.’s holdings in Huntington Bancshares were worth $301,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBAN. WealthShield Partners LLC increased its position in shares of Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after acquiring an additional 683 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares in the last quarter. Summit Financial Strategies Inc. increased its holdings in Huntington Bancshares by 2.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after purchasing an additional 762 shares in the last quarter. State of Alaska Department of Revenue raised its position in Huntington Bancshares by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after purchasing an additional 780 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in shares of Huntington Bancshares by 1.3% during the first quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after purchasing an additional 794 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In related news, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares of the company’s stock, valued at $987,167.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on HBAN. Jefferies Financial Group dropped their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Baird R W lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. StockNews.com lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a report on Friday, July 26th. Finally, UBS Group lowered their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.59.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $14.38 on Friday. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.24. The stock’s 50-day moving average price is $14.21 and its two-hundred day moving average price is $13.68. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market cap of $20.84 billion, a PE ratio of 12.95, a PEG ratio of 2.90 and a beta of 1.05.

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 firm had revenue of $2.97 billion for 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 previous year, the company posted $0.35 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.31%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

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.