Park Avenue Securities LLC Acquires Shares of 58,210 Huntington Bancshares Incorporated $HBAN

Key Points

• Park Avenue Securities LLC acquired 58,210 shares of Huntington Bancshares, valued at approximately $976,000, during the 2nd quarter.
• Insider activity includes Marcy C. Hingst, EVP, selling 41,100 shares, reducing her ownership by 12.07%.
• Analysts have varied ratings on Huntington Bancshares, with price targets ranging from $18.00 to $21.00, indicating a generally positive outlook for the stock.

Park Avenue Securities LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 58,210 shares of the bank's stock, valued at approximately $976,000.

Several other large investors have also modified their holdings of HBAN. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Huntington Bancshares during the fourth quarter worth about $12,500,000. NorthCrest Asset Manangement LLC lifted its position in shares of Huntington Bancshares by 7.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank's stock worth $195,000 after purchasing an additional 856 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Huntington Bancshares by 89.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 376,733 shares of the bank's stock worth $6,129,000 after purchasing an additional 177,356 shares during the last quarter. First Hawaiian Bank lifted its position in shares of Huntington Bancshares by 42.3% during the first quarter. First Hawaiian Bank now owns 47,324 shares of the bank's stock worth $710,000 after purchasing an additional 14,062 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Huntington Bancshares by 410.9% during the first quarter. Versant Capital Management Inc now owns 5,492 shares of the bank's stock worth $82,000 after purchasing an additional 4,417 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% 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. Insiders own 0.89% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on HBAN shares. DA Davidson increased their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Citigroup increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average price target of $18.89.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.42 on Friday. The firm's 50 day moving average is $17.07 and its two-hundred day moving average is $15.93. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44. The firm has a market capitalization of $25.41 billion, a P/E ratio of 12.90, a PEG ratio of 0.84 and a beta of 0.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

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.

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