Geneos Wealth Management Inc. Has $3.61 Million Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Geneos Wealth Management Inc. reduced its holdings in Huntington Bancshares by 19.1%, selling 56,724 shares and now owning a total of 240,410 shares valued at approximately $3.6 million.
• Equity analysts have raised price targets for Huntington Bancshares, with some setting targets as high as $21.00 and maintaining a consensus rating of "Moderate Buy" for the stock.
• The company announced a quarterly dividend of $0.155 per share, scheduled to be paid on October 1st, reflecting an annualized dividend yield of 3.5%.

Geneos Wealth Management Inc. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,410 shares of the bank's stock after selling 56,724 shares during the period. Geneos Wealth Management Inc.'s holdings in Huntington Bancshares were worth $3,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HBAN. CoreCap Advisors LLC lifted its stake in Huntington Bancshares by 18.0% during the fourth quarter. CoreCap Advisors LLC now owns 6,608 shares of the bank's stock valued at $108,000 after purchasing an additional 1,007 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $203,000. Focus Partners Wealth raised its holdings in shares of Huntington Bancshares by 4.5% during the fourth quarter. Focus Partners Wealth now owns 139,207 shares of the bank's stock valued at $2,265,000 after acquiring an additional 5,956 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Huntington Bancshares by 28.9% during the fourth quarter. Gotham Asset Management LLC now owns 22,263 shares of the bank's stock valued at $362,000 after acquiring an additional 4,997 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Huntington Bancshares by 7.0% during the fourth quarter. Janus Henderson Group PLC now owns 222,753 shares of the bank's stock valued at $3,628,000 after acquiring an additional 14,586 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBAN. Truist Financial boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd. Citigroup upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Jefferies Financial Group upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.79.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN traded up $0.03 during trading hours on Friday, hitting $17.77. 21,708,807 shares of the stock were exchanged, compared to its average volume of 24,835,348. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The company's 50 day moving average is $17.00 and its 200 day moving average is $15.79. The firm has a market capitalization of $25.92 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.86 and a beta of 0.97. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is currently 45.93%.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 299,361 shares of the company's stock, valued at $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.89% of the company's stock.

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.