Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,631 shares of the bank’s stock after selling 1,732 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Huntington Bancshares were worth $161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC boosted its stake in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $37,000. Transce3nd LLC bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $48,000. Curat Global LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter worth $52,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after acquiring an additional 702 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Up 0.1%

HBAN stock opened at $16.23 on Tuesday. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a market cap of $23.71 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. The business’s 50-day simple moving average is $14.71 and its 200 day simple moving average is $15.81. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business earned $0.27 earnings per share. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares declared that its board has authorized a stock repurchase program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to buy up to 5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The business 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 dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s payout ratio is 47.33%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brantley J. Standridge sold 70,417 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the transaction, the vice president now owns 326,456 shares of the company’s stock, valued at $4,469,182.64. This trade represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HBAN shares. Cowen assumed coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They issued a “buy” rating for the company. TD Cowen assumed coverage on Huntington Bancshares in a research report on Thursday, May 15th. They issued a “buy” rating and a $20.00 target price for the company. Citigroup decreased their target price on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Raymond James reissued a “strong-buy” rating and set a $18.00 price objective (down previously from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Stephens reissued an “equal weight” rating and set a $16.50 price objective on shares of Huntington Bancshares in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $17.83.

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.