Wealth Enhancement Advisory Services LLC Has $6.13 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wealth Enhancement Advisory Services LLC increased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 89.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 376,733 shares of the bank's stock after purchasing an additional 177,356 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Huntington Bancshares were worth $6,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC boosted its holdings in Huntington Bancshares by 7.7% in 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 period. Park Square Financial Group LLC bought a new position in shares of Huntington Bancshares in the 4th quarter worth about $96,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at about $12,500,000. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Huntington Bancshares by 80.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 22,961 shares of the bank's stock valued at $374,000 after purchasing an additional 10,202 shares during the last quarter. Finally, LifeWealth Investments LLC bought a new position in Huntington Bancshares during the 4th quarter worth $335,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

NASDAQ:HBAN traded down $0.17 during mid-day trading on Wednesday, reaching $15.74. 19,170,709 shares of the stock were exchanged, compared to its average volume of 18,237,331. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The business has a fifty day moving average price of $14.63 and a 200 day moving average price of $15.87. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The firm has a market capitalization of $22.99 billion, a PE ratio of 12.80, a PEG ratio of 1.33 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the company posted $0.27 EPS. Research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.94%. Huntington Bancshares's dividend payout ratio is currently 47.33%.

Huntington Bancshares announced that its board has initiated a share repurchase program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HBAN shares. Royal Bank of Canada cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Jefferies Financial Group initiated coverage on Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective for the company. Raymond James reissued a "strong-buy" rating and issued a $18.00 price objective (down from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.83.

Insider Activity

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 3,434 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $14.50, for a total transaction of $49,793.00. Following the sale, the insider now owns 66,847 shares in the company, valued at approximately $969,281.50. The trade was a 4.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 42,345 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider now directly owns 592,119 shares in the company, valued at approximately $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 312,456 shares of company stock worth $4,464,105. Insiders own 0.89% of the company's stock.

About Huntington Bancshares

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.