Larson Financial Group LLC Boosts Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Larson Financial Group LLC raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 168,086 shares of the bank’s stock after acquiring an additional 12,957 shares during the period. Larson Financial Group LLC’s holdings in Huntington Bancshares were worth $2,471,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. WealthShield Partners LLC raised its position in shares of Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after acquiring an additional 683 shares during the period. UMB Bank n.a. raised its position in shares of Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the period. Foundations Investment Advisors LLC raised its position in shares of Huntington Bancshares by 3.2% in the second quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after acquiring an additional 744 shares during the period. Summit Financial Strategies Inc. raised its position in shares of Huntington Bancshares by 2.5% in the second quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after acquiring an additional 762 shares during the period. Finally, TCW Group Inc. raised its position in shares of Huntington Bancshares by 4.1% in the second quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock worth $267,000 after acquiring an additional 794 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Up 1.5 %

HBAN opened at $17.89 on Monday. The firm has a 50 day moving average price of $15.72 and a 200 day moving average price of $14.47. The company has a market cap of $25.99 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03. Huntington Bancshares Incorporated has a 1 year low of $10.73 and a 1 year high of $17.98. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the prior year, the company earned $0.36 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Analysts Set New Price Targets

Several research firms recently weighed in on HBAN. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Evercore ISI increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a research note on Friday, October 18th. Piper Sandler increased their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Finally, DA Davidson increased their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.26.

Huntington Bancshares 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.