Wealthfront Advisers LLC Buys 69,991 Shares of Huntington Bancshares Incorporated $HBAN

Wealthfront Advisers LLC boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 625,920 shares of the bank’s stock after purchasing an additional 69,991 shares during the quarter. Wealthfront Advisers LLC’s holdings in Huntington Bancshares were worth $10,490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC bought a new stake in Huntington Bancshares in the second quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in Huntington Bancshares in the second quarter valued at about $30,000. Smallwood Wealth Investment Management LLC bought a new stake in Huntington Bancshares in the first quarter valued at about $29,000. Quarry LP increased its holdings in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after purchasing an additional 814 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Huntington Bancshares in the first quarter worth about $31,000. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HBAN. Cowen restated a “buy” rating on shares of Huntington Bancshares in a report on Monday, October 20th. DA Davidson increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Wolfe Research upgraded Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Thursday, July 3rd. Wall Street Zen downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Evercore ISI began coverage on Huntington Bancshares in a report on Tuesday, October 21st. They issued an “outperform” rating and a $18.00 price target for the company. Two equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.76.

Huntington Bancshares Stock Up 1.3%

NASDAQ:HBAN opened at $16.07 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $23.44 billion, a PE ratio of 11.24, a PEG ratio of 0.70 and a beta of 0.96. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44. The stock has a 50-day simple moving average of $17.02 and a 200 day simple moving average of $16.22.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The business had revenue of $469.00 million during the quarter. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

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.