Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. reduced its stake in Huntington Bancshares by 10.7%, owning approximately $4,007,000 worth of shares after selling 31,723 during the first quarter.
• The company announced a quarterly dividend of $0.155 per share, with an annualized yield of 3.74%, scheduled for payment on October 1st.
• Analysts have varied price targets for the stock, with a consensus suggesting it is a "Moderate Buy" with an average price target of $18.68.

Geneos Wealth Management Inc. reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,411 shares of the bank's stock after selling 31,723 shares during the period. Geneos Wealth Management Inc.'s holdings in Huntington Bancshares were worth $4,007,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Huntington Bancshares in the first quarter valued at $29,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Huntington Bancshares in the 1st quarter valued at $31,000. Golden State Wealth Management LLC raised its holdings in shares of Huntington Bancshares by 516.3% in the 1st 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. Wayfinding Financial LLC purchased a new stake in shares of Huntington Bancshares in the 1st quarter valued at $39,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Huntington Bancshares in the 1st quarter valued at $40,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Trading Down 2.4%

Shares of HBAN traded down $0.39 during trading hours on Friday, hitting $16.04. The stock had a trading volume of 41,446,866 shares, compared to its average volume of 37,740,524. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $23.40 billion, a P/E ratio of 11.88, a P/E/G ratio of 0.82 and a beta of 0.94. The company's fifty day simple moving average is $16.43 and its 200 day simple moving average is $15.74. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44.

Huntington Bancshares declared that its board has approved a stock repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

Insider Buying and Selling at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the transaction, the executive vice president directly owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target on the stock in a research report on Thursday, April 24th. Argus set a $17.00 target price on shares of Huntington Bancshares in a report on Friday, April 25th. TD Cowen began coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 price target for the company. 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 report on Thursday, July 3rd. Finally, DA Davidson boosted their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.68.

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.