Wealth Enhancement Advisory Services LLC Acquires 21,224 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Huntington Bancshares by 6.6% by acquiring an additional 21,224 shares, bringing its total to 342,709 shares valued at approximately $6.01 million.
• Wall Street analysts have positive outlooks for Huntington Bancshares, with multiple firms raising their price targets, and the stock receiving mainly "buy" ratings from analysts.
• Huntington Bancshares recently declared a quarterly dividend of $0.155 per share, representing a dividend yield of 3.6%, scheduled for payment on October 1st.

Wealth Enhancement Advisory Services LLC grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 342,709 shares of the bank's stock after buying an additional 21,224 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Huntington Bancshares were worth $6,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in HBAN. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $29,000. Quarry LP grew its holdings in shares of Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after buying an additional 814 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $31,000. Golden State Wealth Management LLC grew its holdings 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 buying an additional 1,869 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, September 12th. DA Davidson raised their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Citigroup raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Finally, Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.89.

Insider Buying and Selling at Huntington Bancshares

In other 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 transaction of $739,800.00. Following the transaction, the executive vice president owned 299,361 shares in the company, valued at $5,388,498. This trade represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Trading Up 0.1%

Shares of Huntington Bancshares stock opened at $17.37 on Thursday. The company's fifty day simple moving average is $17.05 and its 200-day simple moving average is $15.89. The stock has a market capitalization of $25.34 billion, a PE ratio of 12.87, a P/E/G ratio of 0.84 and a beta of 0.97. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89.

Huntington Bancshares Announces Dividend

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