Huntington Bancshares Incorporated $HBAN Position Lifted by Smith Salley Wealth Management

Smith Salley Wealth Management raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,243 shares of the bank’s stock after acquiring an additional 5,207 shares during the quarter. Smith Salley Wealth Management’s holdings in Huntington Bancshares were worth $2,937,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. San Luis Wealth Advisors LLC bought a new position in Huntington Bancshares during the 2nd quarter valued at $735,000. Sonora Investment Management Group LLC bought a new position in Huntington Bancshares during the 2nd quarter valued at $201,000. Signaturefd LLC boosted its stake in Huntington Bancshares by 9.0% during the 2nd quarter. Signaturefd LLC now owns 37,572 shares of the bank’s stock valued at $630,000 after acquiring an additional 3,087 shares during the last quarter. Patton Fund Management Inc. bought a new position in Huntington Bancshares during the 2nd quarter valued at $256,000. Finally, Evergreen Private Wealth LLC boosted its stake in Huntington Bancshares by 2.6% during the 2nd quarter. Evergreen Private Wealth LLC now owns 340,449 shares of the bank’s stock valued at $5,706,000 after acquiring an additional 8,560 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBAN. Wolfe Research upgraded 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 research report on Thursday, July 3rd. Raymond James Financial restated a “strong-buy” rating and issued a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Jefferies Financial Group raised their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Truist Financial raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Citigroup raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.89.

Huntington Bancshares Stock Up 0.6%

Huntington Bancshares stock opened at $17.42 on Monday. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.84 and a beta of 0.96. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $17.07 and its two-hundred day moving average price is $15.95. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the transaction, the executive vice president owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.89% of the company’s stock.

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.