PDS Planning Inc Raises Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

PDS Planning Inc increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 35.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,911 shares of the bank's stock after acquiring an additional 25,458 shares during the period. PDS Planning Inc's holdings in Huntington Bancshares were worth $1,455,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in shares of Huntington Bancshares by 25.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 241,515 shares of the bank's stock valued at $3,625,000 after buying an additional 48,531 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Huntington Bancshares by 22.5% during the first quarter. Sequoia Financial Advisors LLC now owns 596,294 shares of the bank's stock worth $8,950,000 after buying an additional 109,454 shares during the period. HBK Sorce Advisory LLC grew its stake in shares of Huntington Bancshares by 24.0% in the first quarter. HBK Sorce Advisory LLC now owns 25,182 shares of the bank's stock valued at $378,000 after buying an additional 4,878 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Huntington Bancshares by 516.3% during 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 during the period. Finally, International Assets Investment Management LLC raised its position in shares of Huntington Bancshares by 11.0% in the 1st quarter. International Assets Investment Management LLC now owns 11,509 shares of the bank's stock valued at $173,000 after purchasing an additional 1,145 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $16.28 on Thursday. The firm has a fifty day moving average price of $15.39 and a two-hundred day moving average price of $15.67. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market cap of $23.78 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same period in the prior year, the company posted $0.27 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.81%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is 47.33%.

Huntington Bancshares announced that its Board of Directors has approved a share buyback program on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on HBAN shares. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research note on Friday, March 7th. Cowen began coverage on shares of Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Stephens restated an "equal weight" rating and set a $16.50 price objective on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Royal Bank Of Canada lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.08.

Insider Transactions at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 3,434 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $14.50, for a total transaction of $49,793.00. Following the transaction, the insider now owns 66,847 shares in the company, valued at $969,281.50. This represents a 4.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the sale, the executive vice president now directly owns 337,879 shares in the company, valued at $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 214,375 shares of company stock valued at $3,049,277. 0.89% of the stock is owned by insiders.

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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