Stratos Wealth Partners LTD. Sells 25,272 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Stratos Wealth Partners LTD. lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 26.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,426 shares of the bank's stock after selling 25,272 shares during the period. Stratos Wealth Partners LTD.'s holdings in Huntington Bancshares were worth $1,072,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Smallwood Wealth Investment Management LLC bought a new position in Huntington Bancshares in the 1st quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA acquired a new position in Huntington Bancshares in the 1st quarter valued at approximately $31,000. Golden State Wealth Management LLC raised its stake in shares of Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Huntington Bancshares during the first quarter worth $39,000. Finally, Transce3nd LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter worth $48,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HBAN. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Thursday, July 3rd. TD Cowen began coverage on Huntington Bancshares in a research note on Thursday, May 15th. They issued a "buy" rating and a $20.00 price target for the company. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective on the stock in a research note on Thursday, April 24th. Cowen assumed coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Argus set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.48.

Huntington Bancshares Stock Down 1.8%

Shares of NASDAQ:HBAN traded down $0.32 during trading on Monday, reaching $17.07. 69,006,043 shares of the stock were exchanged, compared to its average volume of 23,786,502. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a fifty day moving average of $16.10 and a two-hundred day moving average of $15.70. 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 firm has a market cap of $24.94 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly 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. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business posted $0.27 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.63%. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 25,419 shares of the company's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total transaction of $347,731.92. Following the completion of the sale, the insider owned 70,281 shares in the company, valued at approximately $961,444.08. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of Huntington Bancshares stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total transaction of $848,101.60. Following the transaction, the chief financial officer directly owned 277,348 shares in the company, valued at $3,982,717.28. This represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is currently owned by corporate insiders.

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.