Brookstone Capital Management Purchases 22,612 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Brookstone Capital Management increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 716,902 shares of the bank's stock after buying an additional 22,612 shares during the quarter. Brookstone Capital Management's holdings in Huntington Bancshares were worth $10,761,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Carlson Capital Management grew its stake in shares of Huntington Bancshares by 0.4% during the 4th quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after acquiring an additional 692 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Huntington Bancshares by 6.0% in the 4th quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock valued at $200,000 after acquiring an additional 699 shares in the last quarter. CreativeOne Wealth LLC grew its stake 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 purchasing an additional 762 shares in the last quarter. First Horizon Advisors Inc. grew its stake 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 purchasing an additional 844 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake 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 purchasing an additional 856 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the transaction, the vice president directly owned 326,456 shares in the company, valued at approximately $4,469,182.64. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the transaction, the chief financial officer owned 277,348 shares of the company's stock, valued at approximately $3,982,717.28. This trade represents a 17.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 214,375 shares of company stock worth $3,049,277 in the last ninety days. Insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

Shares of HBAN stock remained flat at $17.54 on Monday. The company had a trading volume of 33,536,720 shares, compared to its average volume of 19,097,642. The company has a market capitalization of $25.62 billion, a PE ratio of 13.39, a P/E/G ratio of 1.34 and a beta of 0.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The stock's 50 day moving average is $15.88 and its 200 day moving average is $15.67.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $0.27 earnings per share. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

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

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HBAN shares. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 25th. Morgan Stanley reduced their target price on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods reduced their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

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.