Kingsview Wealth Management LLC Has $377,000 Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Kingsview Wealth Management LLC lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,673 shares of the bank’s stock after purchasing an additional 3,727 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Huntington Bancshares were worth $377,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Asset Dedication LLC raised its stake in shares of Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new position in shares of Huntington Bancshares in the third quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares in the third quarter valued at $31,000. Fortitude Family Office LLC acquired a new position in shares of Huntington Bancshares in the third quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on HBAN shares. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Barclays increased their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Piper Sandler increased their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Morgan Stanley increased their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, DA Davidson increased their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $16.62.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $18.00 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $18.44. The stock has a market cap of $26.15 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 3.63 and a beta of 1.03. The business’s 50-day simple moving average is $15.93 and its 200 day simple moving average is $14.55.

Huntington Bancshares (NASDAQ:HBAN) last issued 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. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $0.36 earnings per share. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.89% of the company’s stock.

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.