Huntington Bancshares Incorporated $HBAN Stock Holdings Decreased by Modera Wealth Management LLC

Key Points

• Modera Wealth Management cut its Huntington Bancshares stake by 74.9% in the first quarter, selling 217,634 shares and leaving it with 73,045 shares valued at about $1.14 million.
• Several other institutional investors increased their HBAN holdings, and 80.72% of the stock is now owned by institutions and hedge funds, showing continued heavy institutional interest.
• Insider activity was mixed but notable: Director James D. Rollins III sold 223,522 shares and EVP Marcy C. Hingst sold 10,568 shares, while the company also reported a quarterly dividend of $0.155 per share, yielding about 3.4%.

Modera Wealth Management LLC decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 74.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,045 shares of the bank's stock after selling 217,634 shares during the period. Modera Wealth Management LLC's holdings in Huntington Bancshares were worth $1,143,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of HBAN. Empowered Funds LLC lifted its holdings in Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank's stock worth $434,000 after buying an additional 1,366 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank's stock valued at $1,844,000 after acquiring an additional 35,574 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Huntington Bancshares by 8.3% during the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank's stock valued at $662,000 after acquiring an additional 3,023 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Huntington Bancshares by 6.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank's stock valued at $3,674,000 after acquiring an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Huntington Bancshares by 6.2% during the second quarter. Sei Investments Co. now owns 707,605 shares of the bank's stock worth $11,859,000 after purchasing an additional 41,156 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired a total of 33,500 shares of company stock valued at $617,542 over the last three months. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

Shares of HBAN opened at $18.25 on Monday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a fifty day moving average price of $16.90 and a 200 day moving average price of $16.92. The company has a market cap of $37.00 billion, a P/E ratio of 14.04, a PEG ratio of 0.82 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period last year, the business posted $0.34 earnings per share. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.4%. Huntington Bancshares's dividend payout ratio (DPR) is currently 47.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HBAN shares. Stephens assumed coverage on shares of Huntington Bancshares in a report on Monday, June 15th. They issued an "equal weight" rating and a $19.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a report on Monday, July 6th. Wolfe Research reduced their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. Royal Bank Of Canada lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Finally, Piper Sandler upgraded shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective on the stock in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Huntington Bancshares Profile

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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