Code Waechter LLC Invests $330,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Code Waechter LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,997 shares of the bank's stock, valued at approximately $330,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Huntington Bancshares during the 1st quarter valued at $29,000. LFA Lugano Financial Advisors SA purchased a new position in Huntington Bancshares during the 1st quarter valued at $31,000. Golden State Wealth Management LLC increased its position in Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after purchasing an additional 1,869 shares during the period. Wayfinding Financial LLC purchased a new position in Huntington Bancshares during the 1st quarter valued at $39,000. Finally, Transce3nd LLC purchased a new position in Huntington Bancshares during the 4th quarter valued at $48,000. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 59,060 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total transaction of $848,101.60. Following the transaction, the chief financial officer owned 277,348 shares in the company, valued at approximately $3,982,717.28. This represents a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kendall A. Kowalski sold 25,419 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total transaction of $347,731.92. Following the transaction, the insider owned 70,281 shares in the company, valued at $961,444.08. This represents a 26.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Down 1.0%

HBAN stock traded down $0.17 during trading on Friday, hitting $17.39. 19,466,724 shares of the stock traded hands, compared to its average volume of 18,985,327. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The firm's 50 day moving average is $16.10 and its two-hundred day moving average is $15.70. The stock has a market cap of $25.40 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89.

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

Huntington Bancshares declared that its Board of Directors has authorized a stock buyback program on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is currently 47.33%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 price objective on the stock. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 25th. Citigroup boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $18.48.

Huntington Bancshares 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.