Forum Financial Management LP Raises Stock Holdings in Huntington Bancshares Incorporated $HBAN

Forum Financial Management LP boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 74.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,749 shares of the bank’s stock after buying an additional 18,198 shares during the quarter. Forum Financial Management LP’s holdings in Huntington Bancshares were worth $716,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Accurate Wealth Management LLC raised its position in Huntington Bancshares by 3.5% in the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock worth $319,000 after buying an additional 611 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Huntington Bancshares by 0.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock worth $2,758,000 after buying an additional 668 shares during the last quarter. Foundations Investment Advisors LLC raised its position in Huntington Bancshares by 2.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock worth $436,000 after buying an additional 691 shares during the last quarter. Winch Advisory Services LLC raised its position in Huntington Bancshares by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock worth $69,000 after buying an additional 709 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Huntington Bancshares by 2.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 29,032 shares of the bank’s stock worth $487,000 after buying an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 0.1%

Huntington Bancshares stock opened at $15.86 on Friday. The firm has a 50 day moving average of $17.03 and a 200 day moving average of $16.16. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.69 and a beta of 0.96. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $469.00 million during the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 43.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HBAN shares. Keefe, Bruyette & Woods boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd. Citigroup increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Evercore ISI started coverage on shares of Huntington Bancshares in a research note on Tuesday. They issued an “outperform” rating and a $18.00 price objective on the stock. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.76.

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.