Presper Financial Architects LLC Makes New $811,000 Investment in Huntington Bancshares Incorporated $HBAN

Key Points

• Presper Financial Architects LLC invested approximately $811,000 to acquire 48,406 shares of Huntington Bancshares, making it the firm's 17th largest position.
• Several institutional investors significantly increased their holdings in Huntington Bancshares, with Wealth Enhancement Advisory Services raising its stake by 89.0%.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, representing an annual yield of 3.6%.

Presper Financial Architects LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 48,406 shares of the bank's stock, valued at approximately $811,000. Huntington Bancshares accounts for about 0.6% of Presper Financial Architects LLC's portfolio, making the stock its 17th largest position.

Several other institutional investors have also added to or reduced their stakes in HBAN. Wealth Enhancement Advisory Services LLC raised its position in Huntington Bancshares by 89.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 376,733 shares of the bank's stock worth $6,129,000 after acquiring an additional 177,356 shares during the period. Versant Capital Management Inc raised its position in shares of Huntington Bancshares by 410.9% during the 1st quarter. Versant Capital Management Inc now owns 5,492 shares of the bank's stock valued at $82,000 after purchasing an additional 4,417 shares during the period. GAMMA Investing LLC raised its position in shares of Huntington Bancshares by 1,497.1% during the 1st quarter. GAMMA Investing LLC now owns 633,362 shares of the bank's stock valued at $95,070,000 after purchasing an additional 593,706 shares during the period. Rothschild Investment LLC raised its position in shares of Huntington Bancshares by 43.9% during the 1st quarter. Rothschild Investment LLC now owns 9,384 shares of the bank's stock valued at $141,000 after purchasing an additional 2,861 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Huntington Bancshares by 8.5% during the 1st quarter. Rhumbline Advisers now owns 3,126,637 shares of the bank's stock valued at $46,931,000 after purchasing an additional 245,134 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Activity at Huntington Bancshares

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

Analysts Set New Price Targets

Several analysts have recently commented on HBAN shares. 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 report on Thursday, July 3rd. DA Davidson raised their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Raymond James Financial restated a "strong-buy" rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, Citigroup boosted their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.05.

Huntington Bancshares Stock Down 0.4%

HBAN opened at $17.35 on Tuesday. The firm has a 50-day simple moving average of $17.08 and a two-hundred day simple moving average of $15.97. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44. The company has a market capitalization of $25.31 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.84 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Announces Dividend

The firm also recently disclosed 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. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

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.

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