Brookstone Capital Management Has $12.32 Million Stock Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Brookstone Capital Management increased its stake in Huntington Bancshares by 2.5%, owning 734,963 shares valued at approximately $12.32 million.
• The company declared a quarterly dividend of $0.155 per share, representing an annualized yield of 3.9% to be paid on January 2nd, 2024.
• Research analysts have issued a consensus rating of "Moderate Buy" for Huntington Bancshares, with an average target price raised to $19.76.

Brookstone Capital Management boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 734,963 shares of the bank's stock after buying an additional 18,061 shares during the period. Brookstone Capital Management owned approximately 0.05% of Huntington Bancshares worth $12,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new position in Huntington Bancshares during the second quarter valued at $25,000. Smallwood Wealth Investment Management LLC acquired a new position in Huntington Bancshares during the first quarter valued at $29,000. Quarry LP raised its position in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after buying an additional 814 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in Huntington Bancshares during the first quarter valued at $31,000. Finally, Golden State Wealth Management LLC raised its position in Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after buying an additional 1,869 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Cowen reissued a "buy" rating on shares of Huntington Bancshares in a research report on Monday. Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Thursday, July 3rd. Stephens boosted their target price on Huntington Bancshares from $18.00 to $19.00 in a research note on Friday, October 17th. DA Davidson boosted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.76.

Insider Activity

In other news, EVP Marcy C. Hingst sold 41,100 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

HBAN opened at $15.87 on Thursday. The company has a market cap of $23.15 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.75 and a beta of 0.96. The stock has a 50-day moving average of $17.05 and a 200-day moving average of $16.13. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $469.00 million during the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, December 18th. 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.

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