Applied Finance Capital Management LLC Cuts Stake in Huntington Bancshares Incorporated $HBAN

Applied Finance Capital Management LLC reduced its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 34.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,968 shares of the bank’s stock after selling 31,913 shares during the period. Applied Finance Capital Management LLC’s holdings in Huntington Bancshares were worth $1,005,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Accurate Wealth Management LLC increased its stake in Huntington Bancshares by 3.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock worth $319,000 after buying an additional 611 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Huntington Bancshares by 0.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock worth $2,758,000 after buying an additional 668 shares during the period. Foundations Investment Advisors LLC increased its stake in Huntington Bancshares by 2.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock worth $436,000 after buying an additional 691 shares during the period. Winch Advisory Services LLC increased its position in shares of Huntington Bancshares by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock valued at $69,000 after purchasing an additional 709 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Huntington Bancshares by 2.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 29,032 shares of the bank’s stock valued at $487,000 after purchasing an additional 731 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 0.8%

NASDAQ HBAN opened at $15.50 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s fifty day moving average price is $17.08 and its 200 day moving average price is $16.09. The company has a market capitalization of $22.61 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The firm had revenue of $469.00 million for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Citigroup increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Jefferies Financial Group increased their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Finally, Morgan Stanley increased their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.37.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares of the company’s stock, valued at $5,388,498. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.89% of the stock is owned by company insiders.

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.