Wealth Alliance Advisory Group LLC Invests $277,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wealth Alliance Advisory Group LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,873 shares of the bank’s stock, valued at approximately $277,000.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Huntington Bancshares by 77.4% in the 3rd quarter. Blue Trust Inc. now owns 20,974 shares of the bank’s stock valued at $308,000 after acquiring an additional 9,152 shares during the period. Net Worth Advisory Group purchased a new position in Huntington Bancshares in the third quarter valued at about $155,000. Aaron Wealth Advisors LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth about $188,000. Claro Advisors LLC purchased a new stake in shares of Huntington Bancshares in the third quarter worth about $224,000. Finally, Well Done LLC grew its stake in shares of Huntington Bancshares by 1.9% in the third quarter. Well Done LLC now owns 77,035 shares of the bank’s stock valued at $1,132,000 after buying an additional 1,438 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.5 %

NASDAQ:HBAN opened at $15.36 on Friday. The firm has a market capitalization of $22.26 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $16.03. 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 stock has a 50 day moving average of $14.56 and a 200-day moving average of $13.93.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.36 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.18 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Ratings Changes

A number of research firms have weighed in on HBAN. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a report on Friday. Evercore ISI cut their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Bank of America boosted their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Piper Sandler raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $15.91.

Insiders Place Their Bets

In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,622 shares of company stock worth $1,762,904. Insiders own 0.89% of the company’s stock.

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.