Fairvoy Private Wealth LLC Purchases Shares of 40,752 Huntington Bancshares Incorporated $HBAN

Fairvoy Private Wealth LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 40,752 shares of the bank’s stock, valued at approximately $638,000.

Several other institutional investors also recently modified their holdings of the business. MV Capital Management Inc. bought a new position in Huntington Bancshares during the 4th quarter worth $25,000. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $26,000. South Plains Financial Inc. increased its stake in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the period. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $28,000. Finally, Accredited Wealth Management LLC raised its position in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after acquiring an additional 1,322 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was 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 approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 33,500 shares of company stock worth $617,542. 0.67% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Up 1.8%

Shares of NASDAQ HBAN opened at $17.90 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The firm has a market cap of $36.29 billion, a PE ratio of 13.77, a P/E/G ratio of 0.80 and a beta of 0.94. The company’s fifty day simple moving average is $16.48 and its 200 day simple moving average is $16.88. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

Several analysts recently commented on HBAN shares. Weiss Ratings cut Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Evercore restated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Friday, June 12th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Thursday, April 23rd. Wolfe Research decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada lowered their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.05.

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.