Arkadios Wealth Advisors Has $993,000 Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Key Points

• Arkadios Wealth Advisors increased its holdings in Huntington Bancshares by 256.7%, acquiring an additional 47,624 shares, bringing their total to 66,177 shares valued at nearly $1 million.
• The bank has announced a quarterly dividend of $0.155 per share, resulting in an annualized yield of 3.9%.
• Huntington Bancshares' stock received mixed analyst ratings, with 15 analysts issuing a buy rating and an average price target of $18.68.

Arkadios Wealth Advisors raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 256.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,177 shares of the bank's stock after buying an additional 47,624 shares during the quarter. Arkadios Wealth Advisors' holdings in Huntington Bancshares were worth $993,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HBAN. Foundations Investment Advisors LLC lifted its holdings in Huntington Bancshares by 2.4% in the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock valued at $436,000 after acquiring an additional 691 shares during the period. Winch Advisory Services LLC lifted its holdings in Huntington Bancshares by 18.3% in the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock valued at $69,000 after acquiring an additional 709 shares during the period. CreativeOne Wealth LLC lifted its holdings in Huntington Bancshares by 4.0% in the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after acquiring an additional 762 shares during the period. First Horizon Advisors Inc. lifted its holdings in Huntington Bancshares by 5.5% in the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock valued at $241,000 after acquiring an additional 844 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its holdings in Huntington Bancshares by 7.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank's stock valued at $195,000 after acquiring an additional 856 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Activity

In related news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the sale, the executive vice president directly owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Stock Down 1.0%

HBAN stock traded down $0.16 during trading on Thursday, reaching $15.89. The stock had a trading volume of 18,687,242 shares, compared to its average volume of 25,732,086. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $23.17 billion, a P/E ratio of 11.77, a PEG ratio of 0.83 and a beta of 0.93. The firm has a fifty day moving average price of $16.47 and a 200 day moving average price of $15.73.

Huntington Bancshares announced that its Board of Directors has authorized a stock buyback program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is presently 45.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HBAN. Stephens reaffirmed an "equal weight" rating and set a $16.50 price target on shares of Huntington Bancshares in a research note on Monday, April 21st. Keefe, Bruyette & Woods cut their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. DA Davidson lifted their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Cowen initiated coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Citigroup lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.68.

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.