Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by LJI Wealth Management LLC

LJI Wealth Management LLC cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.1% in the third quarter, HoldingsChannel.com reports. The fund owned 57,914 shares of the bank’s stock after selling 5,120 shares during the period. LJI Wealth Management LLC’s holdings in Huntington Bancshares were worth $851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HBAN. Asset Dedication LLC raised its position in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in shares of Huntington Bancshares in the third quarter valued at approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the third quarter worth approximately $31,000. Fortitude Family Office LLC acquired a new position in Huntington Bancshares in the 3rd quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 0.9 %

NASDAQ HBAN traded up $0.16 during trading hours on Friday, reaching $17.69. The company had a trading volume of 16,154,708 shares, compared to its average volume of 16,113,701. Huntington Bancshares Incorporated has a 1-year low of $10.73 and a 1-year high of $17.97. The stock has a market capitalization of $25.70 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.03. The stock has a 50-day moving average of $15.38 and a 200 day moving average of $14.32. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $0.36 EPS. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.50%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBAN. Piper Sandler upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Bank of America raised their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Citigroup upped their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.09.

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.