LifeWealth Investments LLC Grows Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

LifeWealth Investments LLC grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 35.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,869 shares of the bank’s stock after buying an additional 7,302 shares during the period. LifeWealth Investments LLC’s holdings in Huntington Bancshares were worth $418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI boosted its stake in Huntington Bancshares by 220.9% in the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock valued at $59,661,000 after acquiring an additional 2,524,077 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock valued at $13,832,000 after purchasing an additional 129,106 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Huntington Bancshares in the 4th quarter worth $189,000. IFP Advisors Inc grew its stake in Huntington Bancshares by 120.6% during the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank’s stock worth $73,000 after buying an additional 2,462 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Huntington Bancshares by 14.6% during the 4th quarter. Global Retirement Partners LLC now owns 11,069 shares of the bank’s stock worth $180,000 after buying an additional 1,407 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HBAN. JPMorgan Chase & Co. decreased their price target on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 target price on the stock in a research report on Thursday, April 24th. Finally, Citigroup decreased their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.08.

Huntington Bancshares Stock Down 1.4%

Huntington Bancshares stock opened at $15.48 on Wednesday. The business’s 50-day moving average price is $15.06 and its 200 day moving average price is $15.73. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.01%. Huntington Bancshares’s payout ratio is 47.33%.

Huntington Bancshares announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 59,060 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the sale, the chief financial officer now directly owns 277,348 shares in the company, valued at $3,982,717.28. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the transaction, the vice president now directly owns 326,456 shares of the company’s stock, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,617 shares of company stock worth $3,113,982. Company 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.