Modera Wealth Management LLC reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 74.9% during the first quarter, Holdings Channel.com reports. The firm owned 73,045 shares of the bank’s stock after selling 217,634 shares during the period. Modera Wealth Management LLC’s holdings in Huntington Bancshares were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of HBAN. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter worth about $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. Centennial Bank AR bought a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $28,000. DV Equities LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $38,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of Huntington Bancshares by 403.1% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after acquiring an additional 2,092 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.
Huntington Bancshares Price Performance
HBAN stock opened at $18.25 on Monday. The firm has a market cap of $37.00 billion, a PE ratio of 14.04, a P/E/G ratio of 0.82 and a beta of 0.93. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $16.90 and a 200 day simple moving average of $16.92.
Huntington Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.4%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.
Insiders Place Their Bets
In related news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased a total of 33,500 shares of company stock worth $617,542 over the last 90 days. Insiders own 0.67% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on HBAN. Morgan Stanley upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. Evercore reissued an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, July 6th. Stephens started coverage on Huntington Bancshares in a report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective for the company. Finally, Royal Bank Of Canada raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.
Read Our Latest Report on Huntington Bancshares
About Huntington Bancshares
Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.
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