LJI Wealth Management LLC Has $220,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

LJI Wealth Management LLC reduced its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 65.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,644 shares of the bank’s stock after selling 28,157 shares during the period. LJI Wealth Management LLC’s holdings in Huntington Bancshares were worth $220,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $2,358,000. EverSource Wealth Advisors LLC lifted its position in shares of Huntington Bancshares by 97.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 9,456 shares of the bank’s stock worth $154,000 after buying an additional 4,666 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Huntington Bancshares by 6.0% during the 4th quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock worth $200,000 after buying an additional 699 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Huntington Bancshares by 1.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 306,330 shares of the bank’s stock worth $5,002,000 after buying an additional 3,198 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $290,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kendall A. Kowalski sold 25,419 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the completion of the transaction, the insider directly owned 70,281 shares in the company, valued at approximately $961,444.08. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the transaction, the executive vice president owned 337,879 shares of the company’s stock, valued at $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 214,375 shares of company stock worth $3,049,277. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

HBAN has been the topic of a number of research reports. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Sunday. Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Thursday, July 3rd. TD Cowen initiated coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They issued a “buy” rating and a $20.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.48.

Huntington Bancshares Stock Down 1.0%

HBAN opened at $17.39 on Monday. The company has a fifty day moving average price of $16.10 and a 200-day moving average price of $15.70. The firm has a market capitalization of $25.40 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. During the same period in the previous year, the business earned $0.27 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares declared that its Board of Directors has initiated 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 purchase up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.57%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

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.