Arkadios Wealth Advisors Grows Holdings 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 boosted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 256.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,177 shares of the bank's stock after acquiring an additional 47,624 shares during the period. Arkadios Wealth Advisors' holdings in Huntington Bancshares were worth $993,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Huntington Bancshares during the 1st quarter valued at $29,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Huntington Bancshares in the first quarter valued at about $31,000. Golden State Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after acquiring an additional 1,869 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Huntington Bancshares during the first quarter worth about $39,000. Finally, TruNorth Capital Management LLC bought a new stake in Huntington Bancshares during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.04 on Friday. 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 Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The firm has a market capitalization of $23.40 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94. The firm has a 50-day moving average price of $16.43 and a 200-day moving average price of $15.74.

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 paid a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Huntington Bancshares announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to buy up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on HBAN. Jefferies Financial Group assumed coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price for the company in a research report on Thursday, April 24th. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a report on Thursday, July 3rd. Stephens reissued an "equal weight" rating and set a $16.50 price objective on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Truist Financial lifted their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two equities 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $18.68.

Insiders Place Their Bets

In other news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the transaction, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.89% of the stock is currently owned by insiders.

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.

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