Cwm LLC Trims Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Cwm LLC reduced its stake in Huntington Bancshares by 24.6% during the 2nd quarter, now holding 169,645 shares valued at approximately $2.84 million.
• Several hedge funds have made adjustments to their holdings, including significant purchases by Family Legacy Financial Solutions and Golden State Wealth Management, reflecting increased interest in the stock.
• Analysts remain optimistic about the company's future, with multiple brokerages raising their price targets and maintaining a consensus rating of "Moderate Buy" for Huntington Bancshares.

Cwm LLC trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 24.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,645 shares of the bank's stock after selling 55,433 shares during the period. Cwm LLC's holdings in Huntington Bancshares were worth $2,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HBAN. Family Legacy Financial Solutions LLC purchased a new stake in shares of Huntington Bancshares in the 2nd quarter worth $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in Huntington Bancshares in the 1st quarter worth $29,000. Quarry LP increased its stake in Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after buying an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in Huntington Bancshares in the 1st quarter worth $31,000. Finally, Golden State Wealth Management LLC increased its stake in Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after buying an additional 1,869 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Up 0.8%

HBAN opened at $15.50 on Friday. The firm has a 50-day simple moving average of $17.08 and a two-hundred day simple moving average of $16.09. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44. The company has a market capitalization of $22.61 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. The business had revenue of $469.00 million during the quarter. Analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the transaction, the executive vice president owned 299,361 shares of the company's stock, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HBAN. Jefferies Financial Group increased their price target on Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Citigroup increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. DA Davidson increased their price target on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Truist Financial increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $19.37.

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.

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