Huntington Bancshares Incorporated $HBAN Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% during the second quarter, Holdings Channel.com reports. The fund owned 25,249 shares of the bank’s stock after selling 1,180 shares during the quarter. Kennebec Savings Bank’s holdings in Huntington Bancshares were worth $423,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new position in Huntington Bancshares in the 2nd quarter worth about $25,000. Smallwood Wealth Investment Management LLC purchased a new position in Huntington Bancshares in the 1st quarter worth about $29,000. Quarry LP increased its stake in Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Huntington Bancshares in the 1st quarter worth about $31,000. Finally, Golden State Wealth Management LLC increased its stake in Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank’s stock worth $33,000 after purchasing an additional 1,869 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HBAN. Raymond James Financial restated a “strong-buy” rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Wolfe Research upgraded Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Thursday, July 3rd. Finally, Jefferies Financial Group lifted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $19.24.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $17.04 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $17.10 and its two-hundred day moving average is $15.99. The company has a market cap of $24.86 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.83 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 17th. Huntington Bancshares’s payout ratio is currently 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction that occurred on Friday, September 5th. The stock was 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. The trade was a 12.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.89% of the stock is currently owned by corporate insiders.

About Huntington Bancshares

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.