Kestra Advisory Services LLC Acquires 47,314 Shares of Huntington Bancshares Incorporated $HBAN

Kestra Advisory Services LLC boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 715,431 shares of the bank’s stock after buying an additional 47,314 shares during the period. Kestra Advisory Services LLC’s holdings in Huntington Bancshares were worth $11,196,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HBAN. CIBC Asset Management Inc increased its stake in Huntington Bancshares by 24.5% during the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after purchasing an additional 104,965 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Huntington Bancshares by 688.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after buying an additional 75,516 shares in the last quarter. KBC Group NV grew its holdings in shares of Huntington Bancshares by 16.3% during the fourth quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock valued at $48,941,000 after buying an additional 395,489 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Huntington Bancshares by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after buying an additional 1,652,464 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $1,935,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HBAN shares. Morgan Stanley upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group lifted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Huntington Bancshares Price Performance

HBAN stock opened at $17.87 on Monday. The company has a market cap of $36.22 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 0.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The business’s 50-day moving average is $16.73 and its two-hundred day moving average is $16.90. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s payout ratio is presently 47.69%.

Insiders Place Their Bets

In other news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 33,500 shares of company stock valued at $617,542. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Company Profile

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.