Kohmann Bosshard Financial Services LLC Decreases Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kohmann Bosshard Financial Services LLC cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,574 shares of the bank’s stock after selling 3,439 shares during the period. Kohmann Bosshard Financial Services LLC’s holdings in Huntington Bancshares were worth $354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC boosted its holdings in Huntington Bancshares by 2.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock valued at $436,000 after purchasing an additional 691 shares in the last quarter. Winch Advisory Services LLC boosted its holdings in Huntington Bancshares by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock valued at $69,000 after purchasing an additional 709 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock valued at $326,000 after purchasing an additional 762 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Huntington Bancshares by 5.5% in the 1st quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank’s stock valued at $241,000 after purchasing an additional 844 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Huntington Bancshares by 4.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,835 shares of the bank’s stock valued at $328,000 after purchasing an additional 847 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the sale, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.09 on Monday. The firm’s 50 day moving average is $16.48 and its two-hundred day moving average is $15.70. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44. The firm has a market capitalization of $23.47 billion, a P/E ratio of 11.92, a PEG ratio of 0.82 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares declared that its board has approved a share repurchase program on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 45.93%.

Analyst Ratings Changes

A number of brokerages have weighed in on HBAN. Stephens reaffirmed an “equal weight” rating and issued a $16.50 price objective on shares of Huntington Bancshares in a report on Monday, April 21st. DA Davidson upped their target price on Huntington Bancshares from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, July 21st. Citigroup raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Wall Street Zen cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Finally, TD Cowen started coverage on Huntington Bancshares in a research report on Thursday, May 15th. They issued a “buy” rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.68.

About Huntington Bancshares

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.